Polkadot Price Faces Overwhelming Resistance as Technical Weakness Mounts

The Polkadot (DOT) price has been showing signs of technical weakness after plummeting to $0.76, which is a 60% collapse from its January highs near $1.91. The token has also slipped below its Bollinger lower band, indicating that selling pressure has increased.

Despite this, Lawrence Jengar notes that the stochastic indicator is at sub-8 levels, suggesting exhausted initial selling momentum rather than continued freefall. This could lead to a short-term bounce within 48-72 hours, targeting $0.80 and lining up with immediate resistance and the SMA 7.

However, every major moving average is stacked overhead, pointing to significant technical challenges for DOT. The token has also been underperforming throughout 2026, with Blockchain.news documenting its sustained decline relative to the broader market.