Polkadot Price Trapped in Sub-Dollar Range as Momentum Falters

Polkadot's price has been stuck at $0.86 for some time now, and momentum is completely flatlined. This is a clear indication that the market is not willing to commit capital in either direction.

The 200-day Simple Moving Average (SMA) looms at $1.12, which is 30% overhead from the current price. This means that every bounce in this region has been a distribution event rather than a breakout.

Additionally, the Relative Strength Index (RSI) is reading 'neutral' at 53.91, but in a sub-dollar asset with no near-term catalyst, it's functionally bearish. The absence of oversold compression building towards a relief bounce means that the market is simply drifting.

The Bollinger Band configuration confirms this, with price barely nudging above the $0.84 midline and the upper band at $0.96 representing a wall of overhead supply. If support cracks, the real downside target is the lower band at $0.72.