Polkadot (DOT) is testing a crucial long-term support zone between $1.30 and $1.35 on weekly charts. Analyst @TheMoonHailey suggests a rebound could initiate a recovery toward $3.00, with higher targets near $4.50. The daily trend remains bearish, however, with price below key moving averages, while momentum indicators show tentative early signs of recovery without full confirmation.
Polkadot continues to trade within a long-term downtrend from its peak near $11.00. The token is now testing significant support in the $1.30 to $1.35 range, a level that could determine its next major directional move.
Crypto analyst @TheMoonHailey stated that sustained bullish momentum could first target resistance near $3.00. Further recovery may then aim for the $4.20 to $4.50 zone, which aligns with previous consolidation areas.
The daily chart confirms persistent selling pressure, with price currently near $1.48. It remains below key simple moving averages, including the 200 SMA at $2.72, reinforcing the overall bearish structure.
Immediate downside support targets are the $1.30–$1.35 zone, the recent low of $1.13, and the psychological $1.00 level. Upside recovery would require reclaiming resistance levels at $1.65, $1.85, and $2.30.
Momentum indicators provide mixed signals for traders. The Relative Strength Index has bounced from oversold conditions but remains below 50, indicating bears retain control.
The MACD indicator has formed a weak bullish crossover, though it remains below the zero line. “A break above the zero line would be a positive indication for the continuation of the bullish trend,” according to technical assessment.
A weekly close below $1.30 risks accelerating downside volatility toward the $1.00 support. Conversely, a strong bounce from current levels could shift market sentiment and open a path toward the $3.00 resistance target.
