Buying pressure lifts Polkadot price higher in today's trading

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Polkadot surges 10.69% today to $1.274

Highlights

Polkadot suffered a cross-chain bridge breach with $269,000 stolen and laundered via Tornado Cash, spurring exchange deposit freezes.
The Polkadot ecosystem is enacting reforms, including a planned tokenomics overhaul, while the 21Shares DOT ETF saw $785,000 in early April inflows.
DOT/USD remains technically bearish with persistent selling, trading below key trend levels and likely to stay in the $1.24–$1.34 range short-term.

Exchange restrictions and ETF inflows amid bridge exploit fallout

Polkadot recently experienced a security incident involving its cross-chain bridge, leading to approximately $269,000 in losses and the stolen funds being transferred to Tornado Cash. In response, 1 billion fake DOT tokens were minted on Ethereum on April 13, prompting major exchanges such as Upbit and Bithumb to freeze deposits. Meanwhile, the 21Shares Polkadot ETF has attracted $785,000 in net inflows in early April, and the ecosystem is undergoing reforms, including a planned tokenomics overhaul and ongoing developer education efforts.

Anton Kharitonov, expert at Traders Union, notes persistent bearish conditions for Polkadot, reinforced by its position below all key moving averages. He views the recent security breach and the incident involving 1 billion fake DOT tokens as severe sentiment dampeners and risk factors for long-term holders. The technical picture remains fragile, with negative momentum signals dominating and any intraday rebound seen as unreliable. Kharitonov emphasizes that the tokenomics overhaul efforts may not resolve deep trust issues in the near term. He states, "This latest episode reaffirms my defensive stance — DOT is exposed to downside risk unless confidence is clearly restored through tangible reforms and sustained technical improvement."

Viktoras Karapetjanc, expert at Traders Union, views Polkadot’s ecosystem ambitions and ETF inflows as signals of ongoing potential. He remains constructive despite recent security challenges, pointing out that institutional interest is not fading. Karapetjanc highlights developer initiatives and upcoming tokenomics reforms as signs that the bullish structure remains alive. He believes future growth is possible as reform efforts take hold and inflows support sentiment. He remarks, "I expect Polkadot to recover as the market rewards strong fundamentals and the ecosystem adapts to new standards."

Parshwa Turakhiya, analyst, sees conflicting signals on DOT. He notes sharp intraday gains and volatility, but cautions that oversold conditions are not enough for a sustained recovery. Turakhiya focuses on short-term opportunities, highlighting setups for active traders if the price breaks the $1.34 resistance or slips below $1.24. He observes that market sentiment is tense due to recent hacks and exchange deposit freezes. As Turakhiya puts it, "In this environment, nimble strategies work best — I’d watch support and resistance closely and stay ready for quick pivots."

Negative momentum and oversold signals despite intraday price surge

DOT/USD remains below the 20-day ($1.253), 50-day ($1.404), and 200-day ($2.115) moving averages, indicating persistent bearish pressure across short, medium, and long timeframes. The closest dynamic level from the Ichimoku indicator stands at $1.332 (Kijun) as resistance, with short-term support near the 20-day average.

Momentum signals are broadly negative, with the MACD and Average Directional Index (ADX) both pointing to a prevailing downtrend. Oversold readings from the Relative Strength Index (RSI), Stochastic RSI, and Commodity Channel Index (CCI) underline a stressed technical environment. Bull/Bear Power (BBP) remains negative, highlighting continued dominance by sellers, and the Awesome Oscillator supports the prevailing downward pressure. The pair opened with an upside gap of $0.031, and the price is consolidating near the daily high after climbing 10.69% on the day. Intraday volatility stands at 7.60%, reflecting strong buying pressure toward the session’s highs. This sharp rebound stands in contrast to the broader momentum indicators, creating a divergence between the intraday rally and the longer-term bearish tone.

Earlier, analysts noted that Polkadot was locked in a bearish trend amid ongoing selling pressure and security concerns following a cross-chain bridge exploit. The current analysis reinforces this caution by highlighting persistent negative momentum across all key indicators, underscoring the need for traders to monitor $1.24 as a pivotal support level in the days ahead.

Source of Data: DOT Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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