Polkadot Price Surges 11% Before Facing Rejection at Resistance

The Polkadot (DOT) price has surged by over 11% in a single day, reaching as high as $1.03 before settling back around $0.96.

This move is part of a broader crypto risk-on wave that's lifting Layer-1 altcoins off multi-month compression floors.

However, despite the short-term gains, DOT has been a persistent underperformer versus the broader L1 universe for over a year, with its 200-day SMA sitting at $1.14.

The technical indicators are screaming caution, with the price having blown through the upper Bollinger Band and the RSI reading firmly overbought at 74.