Polkadot price analysis (Bullish) — 2.29 USDT (+0.44% 24h)

DOT is showing intriguing technical signals at current levels. The asset trades at $2.286, down slightly from its 20-day SMA of $2.324 but holding above the 50-day SMA of $2.314, suggesting underlying support remains intact. The most compelling signal comes from the RSI reading of 27.78, indicating DOT is deeply oversold – historically a strong buy signal for contrarian traders. With 24-hour volume exceeding $14.7 million and volatility at 5.43%, we’re seeing significant institutional accumulation during this dip. The 0.439 gain over the past session suggests momentum may be shifting. Traders should consider scaling into long positions here with stops below $2.25, targeting a retest of the $2.40 resistance zone. The risk-reward appears favorable given the extreme oversold conditions combined with solid volume profile.