Polkadot price analysis (Bullish) — 2.82 USDT (+7.93% 24h)

DOT is showing strong momentum with a 7.93% surge over 24 hours, currently trading at $2.816 against USDT. The asset has decisively broken above both its 20-day SMA ($2.693) and 50-day SMA ($2.650), indicating sustained bullish pressure. However, caution is warranted as the RSI reading of 76.59 sits deep in overbought territory, suggesting potential for a near-term pullback. Trading volume remains robust at over $41 million, supporting the current price movement. Given the elevated volatility reading of 5.93%, traders should consider taking partial profits on existing long positions while maintaining a bullish bias. New entries might wait for a retest of the $2.75-$2.78 support zone rather than chasing the current highs. Stop losses should be placed below $2.65 to protect against any sharp reversal.