Polkadot is quietly outperforming the broader cryptocurrency market, trading at $2.21 with only a 0.23% decline over the last 24 hours, while Bitcoin fell about 1.1%. DOT has held above multiple moving averages for the first time since its dramatic fall from grace in 2024, when it crashed from its 52-week high of $5.31 to lows near $1.69. Technical indicators are painting an increasingly bullish picture for the interoperability-focused blockchain.
Data from Binance shows DOT’s MACD histogram turning positive at 0.0656, signaling the first sustained bullish momentum since the December lows. The RSI sits in neutral territory around 61.12, leaving room for additional upside without entering overbought territory. Polkadot is approaching the upper Bollinger Band resistance near $2.29, with healthy volume of nearly $20 million in 24-hour Binance spot trading. DOT’s ability to hold above the 20-period simple moving average at $1.92 while other altcoins struggle points to underlying strength, and its positioning above the 7-day ($2.16) and 12-day ($2.06) EMAs forms a golden cross on shorter timeframes.
However, the 200-day moving average at $3.28 remains a significant resistance, representing a 48% premium to current levels. Traders are watching the $2.26 level as immediate resistance, with a break above potentially targeting the stronger zone around $2.82, aligning with the 38.2% Fibonacci retracement. Options flow data suggests market participants are positioning for a move toward $2.50-$2.60 within the next two weeks, though open interest remains relatively light compared with larger tokens like Bitcoin and Ethereum. Skeptics warn that recent strength may reflect technical positioning rather than fundamental catalysts.
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