Polkadot price analysis (Bearish) — 2.02 USDT (-10.65% 24h)

Polkadot (DOT) is experiencing severe technical distress, with the price collapsing over 10% in 24 hours to trade at $2.02. The asset is now trading well below both its 20-day SMA ($2.18) and 50-day SMA ($2.23), confirming a strong bearish trend. The most alarming metric is the RSI reading of approximately 13, which indicates DOT is in deeply oversold territory, a condition rarely sustained for long periods. While the high volatility (4.55%) and significant volume ($16.9M) suggest capitulation selling, this often precedes a potential relief rally or consolidation. For traders, this is a high-risk environment. Aggressive contrarians might consider a small, speculative long position with a tight stop-loss below $2.00, targeting a bounce toward the $2.15-$2.20 resistance zone. However, the prudent approach is to wait for a confirmed bullish reversal pattern or a stabilization in RSI before entering. The trend remains decisively down until key moving averages are reclaimed.