Polkadot has been in a descending channel for quite some time now. No bullish action can occur until this channel breaks either up or down.
If it breaks down $3.6 is a major support that will probably be bought heavily
If we break out and close above $5.75 altcoin season has probably begun.
Remember first bitcoin goes up, then big marketcap alts like Ethereum, Solana, XRP, BNB. Next are the medium cap alts like chainlink, LTC, and polkadot.
If polkadot is able to release Polkadot 2.0 there could be a a lot of hype and maybe polkadot can reach all time highs but thats only if the altcoin market pumps into 2026 otherwise JAM speculation will hit as the altcoin bear market begins.
Exciting price action to come.
If it breaks down $3.6 is a major support that will probably be bought heavily
If we break out and close above $5.75 altcoin season has probably begun.
Remember first bitcoin goes up, then big marketcap alts like Ethereum, Solana, XRP, BNB. Next are the medium cap alts like chainlink, LTC, and polkadot.
If polkadot is able to release Polkadot 2.0 there could be a a lot of hype and maybe polkadot can reach all time highs but thats only if the altcoin market pumps into 2026 otherwise JAM speculation will hit as the altcoin bear market begins.
Exciting price action to come.
Trade active
Today we have broken out of the channel but we need to close above $5.15 to have a daily close out of the channel. Still keeping my stance that DOT does not take off until we close above $5.75. If we close above that $11 is very likely and guaranteed. It's possible that if we pass $11 before august that $30-40 is on the table by December based off of elliot waves. I think we recapture around 50b marketcap by the end of this bull run.
Based off how dots price action has transpired this bull run. I think dot only runs after all higher marketcap alts have topped, which mean when dot finally tops that could be the end of the bull run as a whole.
Follow me if you like me ideas etc i'll update after big price actions days like today.
Note
Price is probably going back to $3.6 but i've been cost averaging this entire time. good luck out thereNote
We have bounced at the $3.60 price but unfortunately with this current market sentiment there is a very good chance we drop to $2.7 or even $2. if BTC touches $69,000 there is a very good chance we go sub $2. I've been enjoying this dip quite a bit just accumulating more and more at these incredibly cheap prices. Favorite cryptos are BTC, ETH, LINK and DOT stay strong and keep HODLing Note
We have now broken out of the channel! First price target if this break out holds on the weekly is $8. If we break $12 the next target is $30 which seems crazy after how rough this bear market has been. Note
But! if it fails to hold $2.70 is inevitable anbd $1.7 is likely. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.