Polkadot’s $3.50 Drama: Is a Bullish Reversal on the Horizon? 🚀💰

Polkadot plummeted over 32% in a month, now teetering on the edge of the crucial $3.50 support level. 📉
Trading volume spiked 50% during the nosedive, signaling either a mass exodus or a potential capitulation. 🚨

Polkadot [DOT] finds itself at a tipping point after a 32% nosedive this month, complete with three consecutive red candles. 🕹️

Price has now landed near $3.50—a historically reactive level that has repeatedly triggered bullish reversals. 🌟

DOT is at its lowest support, so does that mean…

Given the current market sentiment, analysts and experts have been making bold predictions. 📈

Crypto Catalysts, a market analyst on X (formerly Twitter), stated that,

“DOT accumulation phase will end soon with a massive rally.” 🚀

The post also noted that the asset was sitting at the lowest weekly support zone. 📊

Meanwhile, another well-followed crypto expert shared his thoughts, stating that he would go long on DOT once it moves above the $5.20 level. 💪

Such strong conviction from the expert further strengthens the asset’s bullish outlook. 🌈

$1.60 million worth of DOT leaves exchanges

Despite the bearish market structure, investors and long-term holders appear to be aligning with expert views, as they have potentially begun accumulating the token, according to the on-chain analytics tool CoinGlass. 🕵️‍♂️

DOT saw a $1.6 million net outflow from exchanges over the last 24 hours. 💸

This movement suggests investors might be moving tokens off exchanges to accumulate, potentially reducing near-term sell pressure. 🛡️

Despite Polkadot’s price drop, traders are still active

At press time, DOT traded at $3.56, down 3.10% on the day. 📉

Interestingly, Trading Volume spiked 50% within the same period, suggesting high investor participation even as the price declined. 📈

This surge in Trading Volume during a price dip indicates strong bearish sentiment, highlighting that sellers are dominating the market and investors may be exiting their positions in anticipation of further declines. 🚪

AMBCrypto’s technical analysis shows that DOT was sitting at the same key level that sparked reversals in mid-2023 and late-2024. 📊

If the token holds above $3.50, it could mimic past rallies that propelled it back to the $5.00–$6.00 range. 🚀

On the other hand, the sentiment is different this time, as tensions between Israel and Iran appear to be escalating, with the U.S. President seemingly warning Iran. 🚨

If the ongoing conflict intensifies and DOT fails to hold the $3.50 level, closing a daily candle below it, there is a strong possibility the asset could drop significantly, as there is no major support below this level. 📉💥

2025-06-20 03:13