The post Polkadot System Chains Upgrade Passes as DOT Tests Lower Bollinger Band Support at $2. 88 appeared com. Rebeca Moen Nov 03, 2025 03: 04 DOT price trades at $2. 88 down 2. 7% as unanimous referendum approval for system chains upgrade provides positive catalyst amid broader crypto weakness testing key technical support levels. Quick Take • DOT trading at $2. 88 (down 2. 7% in 24h) • Unanimous system chains upgrade referendum signals strong community backing • Price testing lower Bollinger Band support at $2. 83 • Following Bitcoin’s weakness amid broader risk-off sentiment Market Events Driving Polkadot Price Movement The most significant development for Polkadot this week was the unanimous passage of a referendum to upgrade all system chains and schedule the Asset Hub Migration. This technical advancement demonstrates robust community consensus and positions the network for enhanced functionality, providing a positive fundamental backdrop despite current price weakness. Polkadot’s participation in Hong Kong Fintech Week from November 3-7 adds another layer of institutional exposure, showcasing the network’s interoperability solutions to a global audience. However, the failure of the Staking Dashboard funding referendum reflects some community friction over resource allocation, though this had minimal market impact. In the absence of major breaking news catalysts, DOT price action is primarily driven by technical factors and broader cryptocurrency market sentiment. The token is experiencing selling pressure alongside Bitcoin and other major cryptocurrencies, with risk-off sentiment dominating trading decisions. DOT Technical Analysis: Testing Critical Support Zone Price Action Context DOT price currently sits below all major moving averages, trading at $2. 88 compared to the 20-day SMA at $3. 01 and 50-day SMA at $3. 59. This positioning indicates sustained bearish pressure, with the token down 26% from its 52-week high of $5. 31. The current price action shows Polkadot following Bitcoin’s weakness rather than establishing independent strength. Volume on Binance spot market reached $14. 4 million in 24 hours, indicating moderate institutional.