Polkadot price analysis (Neutral) — 3.14 USDT (-4.44% 24h)

DOT is showing signs of consolidation after a 4.4% pullback, currently trading at $3.143 with elevated volatility near 7.7%. The RSI reading of 41 suggests we’re approaching oversold territory, though not yet at extreme levels. Notably, price has dipped below the 20-day SMA at $3.19 while hovering near the 50-day SMA at $3.15, indicating potential support at these technical levels. The $490M daily volume shows decent participation despite the downward move. For traders, this presents a potential accumulation zone between $3.10-$3.15, with a break below $3.10 likely triggering further downside toward $3.00. Resistance sits firmly at the $3.20-$3.25 zone where the 20-day SMA converges with recent swing highs. Position sizing should remain conservative given the heightened volatility environment. Consider scaling into long positions on weakness with tight stops, targeting a return to the $3.30 resistance area.