Polkadot Price Constrained by Descending Channel, Key Support and Resistance Levels Defined

Recently, the price of Polkadot (DOT) has been oscillating within a narrow range of $1.46 to $1.53. The current price is in the middle of this range, indicating cautious market sentiment. Looking at the 24-hour performance, DOT is up 1.8% against Bitcoin, quoted at 0.00002194 BTC; and up 1.6% against Ethereum, quoted at 0.0007519 ETH, showing its relative resilience among major cryptocurrencies, but has not yet broken through short-term technical pressure.

Observing the four-hour chart, DOT is in a clear descending channel, with the price continuously forming lower highs. The upper trendline is sloping downwards, currently pressing around $1.50, which has been a suppression point for multiple recent rebounds. The price has touched this area multiple times without effectively breaking through, reinforcing its reliability as a short-term resistance level.

On the support side, $1.46 is the current key psychological and technical support level. If selling pressure increases, the price may retest this level; once broken, the next support range will point to $1.38–$1.40, an area that has previously acted as a bottom stop multiple times. Overall, DOT's short-term trend is still dominated by the descending channel, and the price is likely to repeatedly oscillate within the $1.46–$1.53 range until a breakout signal or a change in trend structure occurs.