Polkadot (DOT) is hugging its range lows, perking up interest among traders keeping tabs on its movements.
According to market observer Alex Clay, Polkadot’s current zone has the markings of solid accumulation levels – similar to past periods when buyers stepped in before price climbs. His accompanying chart outlines historical price action, key support and resistance levels, and projected future targets.
In his tweet, Alex Clay emphasized DOT’s positioning within a key accumulation zone, stating, “$DOT is sitting at the bottom of Accumulation range. It’s buy zone for me—literally the bottom. Accumulating #DOT here.”
#Polkadot $DOT is sitting at the bottom of Accumulation range🧐
— Alex Clay (@cryptclay) February 10, 2025
It's buy zone for me – literally the bottom☝️
Accumulating #DOT here🚀🤝 https://t.co/QnQ0ef6qce pic.twitter.com/UAVUHpxq50
His weekly chart highlights DOT trading at $4.85, currently about $5.20, with the accumulation range spanning from approximately $4.50 to $6.50. This level has historically acted as a demand zone, leading to significant price recoveries in past cycles. Clay suggests that a breakout above the mid-zone resistance of $6.50 could signal the beginning of a new uptrend.
What you'll learn 👉
Key DOT Price Levels to Watch
The key support and resistance areas shown by Polkadot’s technical framework may determine its next course of action. With $4.50 to $5.50 serving as a firm support, DOT is trading within this zone. A bullish turnaround may be possible if the price stays above this level.
Resistance levels remain key to DOT’s upside potential. The first major resistance sits at $6.50, a historically significant rejection point. Beyond this, the $10.50 mark is the next major hurdle before DOT can attempt a larger rally. If sustained momentum builds, further price targets include $22.00, $34.65, and $47.25, marking potential long-term bullish scenarios.
Read also: XRP Price Prediction For February 11
DOT Price Prediction: Future Scenarios
Clay’s analysis suggests two potential outcomes for DOT. In the bullish case, DOT rebounds from the current accumulation zone and breaks through $6.50, confirming a trend reversal. This move could propel the price toward $10.50, followed by higher resistance levels at $22.00 and beyond.
However, in a bearish scenario, DOT could fail to hold above $4.50, leading to a deeper price correction. Although this might delay a complete recovery, analysts contend that upholding the accumulation range would continue to bolster long-term optimistic outlooks.
Current trading figures show a rise in volume for DOT, reflecting a 7.97% increase in the last 24 hours and an 8.85% rise over the week The rising buying activity within the accumulation range supports the argument that investors are positioning for a potential upward breakout.
With strong historical support, increasing accumulation, and growing bullish sentiment, the next price movement could determine whether Polkadot will reclaim higher levels in the coming months.
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