Polkadot's Price Dance: Bulls and Bears Tussle Around Key Levels

Polkadot (DOT) price action on February 28, 2025, saw the cryptocurrency fluctuating between support at $4.454 and resistance at $4.714, with traders remaining cautious about its next price movement. The market's mixed outlook, as indicated by technical indicators, left traders uncertain about whether the current price levels represent a buying opportunity or a sign of further drops.

On February 27, DOT began the trading day with moderate range-finding and found support at $4.714. The price remained steady until 00:45 UTC, when a golden cross appeared, signaling the start of an upward trend. This bullish momentum pushed the price higher, but as the Relative Strength Index (RSI) reached overbought levels around 7:45 and 11:00 UTC, the price began to slow down. DOT reached a peak at $5.183, facing strong resistance. By 11:15 UTC, a death cross emerged, leading to a slight downward shift with moderate fluctuations.

On February 28, Polkadot continued its downward trend. A death cross at midnight triggered a further price decline, with DOT struggling to hold its support level before falling to $4.454, the day's lowest point. The selling pressure remained strong, but the market showed signs of recovery in the morning. At 8:45 UTC, a golden cross on the Moving Average Convergence Divergence (MACD) line suggested a potential reversal, sparking bullish momentum. This upward move gained strength when the RSI hit overbought levels at 9:30 UTC, pushing the price higher. DOT followed an upward trend, though price fluctuations remained. By the end of the trading session, DOT tested its resistance at $4.714, showing improved bullish sentiment.

Polkadot's latest price analysis suggests that the price could break above the resistance of $4.714, potentially entering its previous trading range and reaching up to $5.183. However, if bullish momentum weakens, DOT could struggle to hold its position and fall back to its support at $4.454. Traders should watch the technical signals for confirmation of the next move. A solid push above $4.71