Polkadot Nears Strong Support, Ready to Bounce: How High Can DOT Price Surge?

Crypto Patel shared his analysis of Polkadot as it reaches a critical support level. According to Patel, DOT price is currently trading near a strong support zone

Crypto Patel took a look at Polkadot (DOT) as it trades at a critical support level.

According to Patel, DOT price is currently nearing a strong support zone between $3.80 and $3.60. If this support manages to hold, it could set the stage for an upward move in DOT price.

However, Patel also noted the possibility of a liquidity grab, where the price might temporarily dip below the support level to liquidate high-leverage positions. Afterwards, the price could bounce back from lower levels. This is a common market manipulation tactic that traders should be aware of.

Those who are interested in accumulating DOT can consider entering small at current levels and also place buy orders in the $2.50 to $2.00 range for potential long-term gains.

This strategy takes into account both the current support and the possibility of a deeper dip before a more meaningful reversal. By splitting entries, investors can capture value at different price points.

If DOT follows the anticipated market uptrend during the next altcoin season, it could potentially reach $40 to $50, added the crypto analyst.

According to the analysis, traders should watch the $3.60 price threshold closely. Staying above this zone would indicate a bullish move, while dropping below it might signal possible stop hunts before an eventual return.

The chart shows DOT is currently consolidating around the $3.60-$3.80 support zone, with an immediate resistance level at $10.44. A more significant long-term resistance is at $42.10, which is the previous major peak.

The area below current support has high liquidity, which suggests that market makers might target these levels to collect stop losses.

In a bullish scenario, if the $3.60 support holds, DOT could begin increasing toward the $10.44 resistance. A breakout above this level would likely trigger a stronger bullish phase with much higher targets.

In a bearish case, a sustained breakdown below $3.60 might push prices toward the $2.50-$2.00 zone, which crypto analyst suggests is an optimal long-term accumulation area.