Polkadot (DOT) price has begun its recovery journey, bouncing off the important $6.2 support level after a period of intense selling pressure. This key price floor has proven its strength, giving bulls the confidence to re-enter the market. Oversold conditions signal a potential On the upside, and the DOT is now slowly climbing, which sparks renewed optimism among traders who expect strong bullish momentum in the coming days.
DOT’s ability to hold and build on the current upswing will be critical in determining its next price phase, with technical indicators aligning to support the recovery narrative. Will this gradual recovery pave the way for Polkadot to recover from its recent slump, or Bearish pressure Repeating yourself?
Polkadot recovery in focus: Can bulls keep up the momentum?
After rebounding to the $6.2 support level, DOT price is now showing early signs of recovery. DOT is looking to move higher slowly but steadily, with the 4-hour simple moving average (SMA) set to reach. This moving average serves as a key technical indicator for short-term trends, and a move towards it suggests that Polkadot is gaining strength. Recovery the effort
Moreover, the gradual price increase of DOT reflects a shift in market sentiment, moving from bearish to more neutral as buyers cautiously re-enter the market. The $6.2 support level provided a solid foundation, allowing the price to stabilize and begin its ascent.
As the token approaches the 4-hour SMA, it will face a critical point where the bulls must demonstrate their strength by crossing this level. A successful break above the SMA could be another catalyst benefitconfirms that fast speed is catching
Technical indicators are starting to reveal early positive signals for Polkadot, with the Composite Trend Oscillator showing promising movement. Currently, the indicator, which synthesizes several technical indicators, shows that DOT is in oversold territory, suggesting that the cryptocurrency may be poised for a reversal as buying interest begins to build.
However, SMA’s journey is still in its early stages, and recovery remains fragile. Any failure to hold above the $6.2 support or break the SMA could result in a setback for Polkadot, potentially allowing bearish pressure to resume.
Key resistance levels to watch next
As Polkadot tries to maintain Its momentum, key resistance levels will play an important role in determining whether the recovery can continue. The first major resistance to watch is around the $7.7 mark, which could act as a barrier to the upside. A break above this level indicates increasing bullishness strengthPaving the way to move towards higher price targets.
Additionally, the $9.8 range could present challenges as the DOT works to establish a more solid uptrend. They are being monitored opposition The levels will be important to assess whether Polkadot can maintain its upward trajectory or if bearish forces will regain control.
