- Polkadot price fluctuated in a tight range near $1.50 on Tuesday.
- Bulls could push to above $1.67 ahead of DOT emissions cut.
- Sell-off pressure amid prevailing market conditions might derail this setup.
Polkadot is trading near $1.50 as bulls position amid a potential breakout, with eyes on the upcoming upgrade and overhaul of DOT’s tokenomics.
The cryptocurrency’s price is also off lows of $1.40 reached earlier in the week as investors ponder a potential boost to DOT from fresh institutional interest.
Bulls recently celebrated the launch of the first US spot Polkadot ETF.
DOT, ranked 33rd with a market capitalization of $2.54 billion, is bidding to extend gains amid overall upward movement for Bitcoin and top altcoins.
Polkadot (DOT) holds near $1.50 as upgrade nears
Polkadot’s price shows an intraday range of $1.49-1.54 in early trading during the US session on March 10.
The gains see buyers bid for a retest of recent highs, while holding the critical $1.50 level.
The backdrop to this price action is a scheduled reset of Polkadot’s tokenomics.
A new monetary framework will roll out on March 12, and analysts say anticipation could catalyze fresh momentum for DOT.
The uptick this past week coincided with notable buying as traders positioned ahead of the event.
Specifically, Polkadot’s tokenomics reset will involve the introduction of a 2.1 billion hard cap on DOT supply.
The upgrade targets a 53.6% cut in emissions as well as staking.
ETF buzz has also engulfed Polkadot over the past few days.
This follows the debut of 21Shares’ spot Polkadot ETF, the first US spot DOT ETF that went live on Nasdaq under the ticker TDOT.
The physically backed fund, seeded with $11 million, could strengthen the asset’s appeal as a longer‑term allocation within diversified crypto portfolios.
Polkadot technical analysis
From a technical perspective, DOT’s immediate focus is on converting the $1.50-$1.55 region from resistance into support.
Bulls are eyeing three consecutive green candles on the daily chart and look to have stemmed the downtrend from highs of $1.75 posted in late February.
RSI is neutral near 50, and an upturn could see buyers accelerate gains.
However, after a choppy start to the year, trading around this level means bulls may not be out of the woods yet.
The token may thus trade sideways as consolidation picks pace.
For a breakout, DOT has to achieve an emphatic daily close above $1.55.
A successful breach of resistance at $1.67 amid a bullish retest could trigger follow-through buying.
If this happens, it could open the door to a short-term test of recent local highs around $2.30.
Conversely, failure to hold $1.50 will keep DOT confined within its descending channel. Major support lies around $1.22.
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