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- If Polkadot bulls manage to defend the support at $2.8, it could initiate an upward trend, with potential targets at $3.80, $4.30, and $5.40, possibly reaching $6.50 under optimistic scenarios.
- Upcoming ecosystem advancements like the JAM upgrade and enhanced parachain functionality could boost sentiment and attract both technical and fundamental buyers.
Amid the broader crypto market sell-off, the Polkadot (DOT) price has been facing strong selling pressure with more than a 17% drop on the weekly chart and testing the crucial support at $3.2. Currently, DOT also sits in the top 25 crypto list with a market cap of $5.12 billion. Also, the daily trading volume for DOT surged 41% to more than $302 million.
Polkadot (DOT) is currently testing a critical support zone, marking the base of a descending triangle pattern on the daily chart. This pattern typically forms when a flat support level intersects with lower highs, signaling sustained selling pressure. In DOT’s case, the triangle’s base lies between $2.50 and $2.80—a region that previously attracted notable buying interest.
Currently trading just above this range, DOT faces a pivotal juncture, with a potential breakout or breakdown likely to define its trajectory in the coming weeks.
Polkadot Bulls Need to Defend This Support
Polkadot (DOT) could enter a new uptrend if the $2.50–$2.80 support zone holds and buying volume increases. The initial resistance at $3.80 would confirm a shift in momentum.
Sustained strength could push prices further to $4.30 and potentially to $5.40, reflecting the peak reached earlier in 2024. In an optimistic scenario, DOT might climb to $6.50, marking a 150% surge from current levels.
This potential surge could align with upcoming ecosystem advancements, such as the JAM upgrade and increased focus on parachains. These initiatives may spark renewed optimism, attracting both technical traders and long-term fundamental investors.
On the downside, Polkadot price faces a risk of a crash if it breaks below the descending triangle’s support zone. A decisive daily close beneath $2.50 could trigger a decline toward the $2.00 level. This scenario depends on broader market factors as well as Bitcoin price movement, along with a shift in global risk sentiment.
Developments Around ETFs and Bitcoin Treasury
Two asset managers – Grayscale and 21Shares – have filed to introduce a spot Polkadot ETF, with the U.S. Securities and Exchange Commission (SEC). Although the SEC had delayed the decision on Grayscale’s spot Polkadot ETF back in April, Bloomberg analysts place the odds of approval at a massive 90% by the end of 2025. Note that the final SEC deadline either to approve or reject is on the 8th of November.
Hopefully $DOT 👀
Strong tech, real use cases, and a growing ecosystem.
It deserves a seat at the table.No doubt the SEC will approve it , the only question is when. ⏳🚀 https://t.co/XnnAnXTbHx pic.twitter.com/NHnfy11mTP
— Capo.dot 🎩⭕️ (@Capo_Dot_) June 23, 2025
On the other hand, the Polkadot community is deliberating a proposal to allocate 501,000 DOT toward building a Bitcoin strategic reserve over the next 12 months, as mentioned in our previous story. Introduced in early June by the user “hippiestank,” the plan suggests leveraging Hydration’s Rolling DCA system to acquire threshold Bitcoin (tBTC) systematically.