Polkadot price analysis (Bullish) — 2.57 USDT (+0.27% 24h)

DOT is showing signs of consolidation after a modest 0.27 point gain over the past 24 hours, currently trading at $2.571. The token remains in a tight range between its 20-day SMA ($2.535) and 50-day SMA ($2.599), suggesting a potential breakout scenario is developing. With RSI at 56.77, DOT maintains healthy momentum without entering overbought territory, while volatility remains elevated at 5.79%. The $38.4 million 24-hour trading volume indicates sustained institutional interest. Traders should watch for a decisive break above the $2.60 resistance level, which could trigger a move toward $2.75. Support holds firm at $2.50, with a break below potentially testing $2.45. Position sizing remains crucial given the elevated volatility. Consider accumulating on dips toward support with tight stop-losses.