Polkadot (DOT/USDT) Bullish Traders Eye Reversal at Historical Low

Polkadot Long-term Analysis: Ranging

Polkadot against the Tether has experienced a prolonged downtrend from its previous year's highs, falling into the oversold territory and hugging the lower segment Bollinger band even now. However, the price action around the $4.130 lower band suggests suppressed volatility with the potential for a breakout.

Meanwhile, the Stochastic RSI has begun to show signs of potential upside movement as the lines curl upside, hinting at an early bullish momentum building. To this end, this setup indicates the coin may be preparing for a short- to mid-term reversal move but awaits increasing bullish volume.