Polkadot price analysis (Bullish) — 2.31 USDT (-1.16% 24h)

DOT is showing concerning technical signals as it trades at $2.308, down 1.16% over the past 24 hours. The most striking indicator is the RSI reading of 24.8, which places DOT in severely oversold territory – typically suggesting potential for a near-term bounce. Currently trading below both the 20-day SMA ($2.339) and 50-day SMA ($2.326), DOT faces immediate resistance at these levels. The 24-hour volume of $9.46 million indicates moderate interest, while volatility remains elevated at 4.45%. For traders, this presents a classic contrarian opportunity – the extreme oversold conditions suggest accumulation near current levels could yield short-term gains. However, any position should employ strict risk management with stops below $2.25. A break above the 20-day SMA would confirm bullish momentum returning, while failure to hold current levels could see further downside toward $2.20.