The DOT price has been stuck in a slow grind for months, drifting lower and struggling to spark any real bullish momentum. But things are getting interesting again.
DOT has returned to levels that have repeatedly stopped the bleeding, a setup analysts are now wondering could mark the beginning of a bigger recovery towards $5.
Presently, DOT is trading at a support zone near $2.29 that has acted like a kind of floor multiple times this year. So the big question becomes: can it hold again?
What you'll learn 👉
DOT Revisits a Key Support Level
Analyst Erick Crypto pointed out that DOT recently bounced off the $2.29 level and ran all the way up to $3.50 before getting rejected. Now the DOT price has slipped back to that same support, creating a familiar setup on the daily chart.
The fact that DOT keeps returning to $2.29 without breaking lower indicates buyers are still paying attention. It doesn’t guarantee a reversal, but it does show that this level matters and traders are watching it closely.
Even though the structure looks promising, analysts aren’t ready to call a new uptrend yet. Erick Crypto noted that a bounce toward $5 is possible, but only if DOT confirms strength first. That could mean reclaiming $2.80, breaking above $3.50, or seeing volume start to increase.
For now, the DOT price is sitting quietly above support, and trading volume remains thin. That usually signals hesitation, not commitment. Until the market shows confidence, the risk of another slip lower remains on the table.
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Will Polkadot Ever Recover?
That’s the bigger sentiment issue at play. Crypto trader Ray, captured the community’s frustration perfectly by asking, “Will $DOT ever recover?”
It’s understandable, the macro chart shows the DOT price falling from above $50 in 2021 to just over $2 today. Long-term holders have been waiting years for momentum to return. Still, assets often spend long periods building a base before reversing, and DOT may be in that phase right now.
If the $2.29 support continues to hold, the first resistance to watch sits near $3.50. A breakout there could open the door toward $4.50–$5.00, where DOT last faced meaningful selling pressure.
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What Comes Next?
Everything depends on how DOT behaves at this support level. Holding the zone, tightening the price action, and seeing even a modest volume uptick would hint that buyers are stepping back in. Losing it would likely invalidate the setup and send the DOT price searching for lower support.
For now, Polkadot is at a key decision point. It hasn’t confirmed a recovery, but if a rebound is to come, this is where it probably would start from.
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