Polkadot Surges 10% as Grayscale Files ETF, Nasdaq Seeks Listing

Polkadot (DOT) price has surged over 10% in the past 24 hours, ranking among the top-performing altcoins. This significant increase comes on the heels of Grayscale's addition of Polkadot to its growing list of ETFs filed with the US Securities and Exchange Commission (SEC). Nasdaq has also requested approval to list Grayscale Polkadot Trust shares, aiming to provide investors with better price-tracking options. The latest developments have fueled market optimism, pushing DOT closer to the $10 resistance level.

Grayscale's ETF filing for Polkadot follows similar applications for XRP and Dogecoin ETFs. Nasdaq confirmed on February 25 that Grayscale submitted a 19b-4 filing for a Polkadot ETF with the SEC. If approved, the fund will trade on Nasdaq. The SEC has 45 days to acknowledge the filing and may extend the review. Grayscale has been expanding its crypto ETF offerings, with the SEC opening a 21-day public comment period for XRP and Dogecoin ETFs filed through NYSE Arca earlier this month.

The recent rally in Polkadot's price reflects the growing interest in cryptocurrency ETFs. Market reactions suggest optimism, with traders closely watching regulatory developments. If the SEC approves the Polkadot ETF, it could influence DOT's market trajectory.

The latest DOT price has experienced a notable upward movement, signaling a potential bullish breakout. Currently positioned at $4.679, DOT has formed an ascending channel, with more than 10% in the past 24 hours. The Relative Strength Index (RSI) currently stands at 48, recovering from oversold conditions. The Moving Average Convergence Divergence (MACD) indicator is forming a bullish crossover, with the signal line turning upward, suggesting increasing buying pressure.

The 4-hour chart highlights crucial resistance levels. The $6.00 mark is the first major barrier. A confirmed breakout above this level could send DOT toward $8.00. Continued bullish momentum could drive the price to $10.00, representing a 105% increase from current levels. On the downside, immediate support sits near $4.0