Even though the main chain was not compromised, losses were limited, and no fundamental breakdown occurred, the DOT price plunged significantly. This hack highlighted that the cross-chain infrastructure remains at a weak point. Moreover, the DOT price was already in a weak structure before this happened, and the exploit accelerated an existing downtrend.
The price continues to respect a downtrend sloping resistance trendline, where it is getting sold into before reclaiming higher levels. Bollinger bands show the price stuck below the midline, indicating that the trend pressure remains intact. Besides, the MACD is attempting a crossover but is still below zero, suggesting no real shift in momentum.
Collectively, the Polkadot price is not reversing but consolidating inside a bearish trend and waiting for expansion. Therefore, if the rally reclaims the $1.30 to $1.50 range, a breakout above the descending trendline could be imminent. This could further push the price close to the $2 resistance, but if it fails and loses $1.10 support, which is the channel base, the DOT price may drop to $0.95 to $0.80, the major support range.
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