Rebeca Moen
Nov 03, 2025 03:04
DOT worth trades at $2.88 down 2.7% as unanimous referendum approval for system chains improve gives constructive catalyst amid broader crypto weak spot testing key technical assist ranges.
Fast Take
• DOT buying and selling at $2.88 (down 2.7% in 24h)
• Unanimous system chains improve referendum alerts sturdy neighborhood backing
• Worth testing decrease Bollinger Band assist at $2.83
• Following Bitcoin’s weak spot amid broader risk-off sentiment
Market Occasions Driving Polkadot Worth Motion
Probably the most vital improvement for Polkadot this week was the unanimous passage of a referendum to improve all system chains and schedule the Asset Hub Migration. This technical development demonstrates strong neighborhood consensus and positions the community for enhanced performance, offering a constructive basic backdrop regardless of present worth weak spot.
Polkadot’s participation in Hong Kong Fintech Week from November 3-7 provides one other layer of institutional publicity, showcasing the community’s interoperability options to a world viewers. Nevertheless, the failure of the Staking Dashboard funding referendum displays some neighborhood friction over useful resource allocation, although this had minimal market impression.
Within the absence of main breaking information catalysts, DOT worth motion is primarily pushed by technical elements and broader cryptocurrency market sentiment. The token is experiencing promoting stress alongside Bitcoin and different main cryptocurrencies, with risk-off sentiment dominating buying and selling selections.
DOT Technical Evaluation: Testing Vital Support Zone
Worth Motion Context
DOT worth presently sits under all main transferring averages, buying and selling at $2.88 in comparison with the 20-day SMA at $3.01 and 50-day SMA at $3.59. This positioning signifies sustained bearish stress, with the token down 26% from its 52-week excessive of $5.31. The present worth motion reveals Polkadot following Bitcoin’s weak spot reasonably than establishing impartial power.
Quantity on Binance spot market reached $14.4 million in 24 hours, indicating average institutional curiosity however missing the conviction wanted for a sustained reversal.
Key Technical Indicators
The RSI at 38.18 sits in impartial territory however approaching oversold circumstances, suggesting potential for a technical bounce. The MACD histogram reveals a slight bullish divergence at 0.0218, indicating weakening promoting momentum regardless of the general damaging MACD studying of -0.1722.
Most critically for Polkadot technical evaluation, the %B indicator at 0.1532 reveals DOT worth close to the decrease Bollinger Band at $2.83, a stage that has traditionally offered assist throughout earlier corrections.
Vital Worth Ranges for Polkadot Merchants
Speedy Ranges (24-48 hours)
• Resistance: $3.01 (20-day transferring common and psychological stage)
• Support: $2.83 (decrease Bollinger Band and up to date 24-hour low)
Breakout/Breakdown Situations
A break under $2.83 assist may set off additional promoting towards the following main assist at $2.77, with the 52-week low at $2.87 already breached. Conversely, a profitable protection of present ranges and transfer above $3.01 resistance may goal the instant resistance at $3.34.
DOT Correlation Evaluation
• Bitcoin: DOT worth is carefully following Bitcoin’s bearish momentum, with each belongings experiencing comparable share declines within the present session
• Conventional markets: Danger-off sentiment from fairness markets seems to be weighing on cryptocurrency costs broadly
• Sector friends: Polkadot is underperforming relative to some layer-1 rivals, suggesting particular promoting stress past normal market weak spot
Buying and selling Outlook: Polkadot Close to-Time period Prospects
Bullish Case
A profitable protection of the $2.83 decrease Bollinger Band assist, mixed with constructive momentum from the Hong Kong Fintech Week publicity, may spark a technical bounce towards $3.01 resistance. The unanimous referendum passage gives basic assist for medium-term power.
Bearish Case
Failure to carry present assist ranges amid continued Bitcoin weak spot may see DOT worth decline towards the sturdy assist zone at $2.77. Broader cryptocurrency market sentiment stays fragile, creating further draw back danger.
Danger Administration
Merchants ought to contemplate tight stop-losses under $2.80 given the proximity to key assist. The every day ATR of $0.23 suggests place sizing ought to account for potential 8% every day strikes in both route.
Picture supply: Shutterstock
