Polkadot News Today: Polkadot Surges 30% in Two Weeks, Reclaims Key Support Level

Polkadot has experienced a significant surge, with its price increasing by 30% over the past two weeks. This surge has allowed the cryptocurrency to reclaim a key support level that it had lost during the recent market downturn. The bullish sentiment surrounding Polkadot is further supported by the Relative Strength Index (RSI), which stands at 73, and the Open Interest, which is at $483 million. However, analysts warn that this rapid price increase may lead to a short-term correction before the asset can continue its upward momentum.

Historically, the current price level has been a key reversal area for Polkadot. Since October 2023, the price of DOT has reached this level more than six times, and each time it has resulted in a notable price surge. This pattern suggests that the current price level may be the beginning of another potential surge, which could explain the growing attention from traders and investors.

The bullish sentiment surrounding Polkadot is further supported by on-chain analytics. According to the on-chain analytics tool, traders betting on the long side now outnumber those taking short positions. At press time, the Long/Short ratio reached its highest level since June 2025 and was hovering around 3.92, indicating that for every 3.92 traders going long, there is only one trader interested in a short position. This metric further shows that 79.68% of traders were betting on long positions, while 20.32% were on short positions.

Despite a 5.06% dip in the past 24 hours, investor and trader participation in Polkadot remains high. The 24-hour trading volume has surged by 48% compared to the previous day, and the Open Interest has also surged by 4.50% to $483.36 million. This indicates notable capital inflows into the asset, suggesting that Polkadot may continue its upward momentum.

However, the rapid price increase has led to concerns about an overbought asset. The Relative Strength Index (RSI) stands at 73, indicating that the asset is in the overbought zone and there is a strong possibility it could face a correction before another rally begins. If Polkadot holds above the $3.90 level, there is a strong possibility it could see another 20% price increase and potentially reach the $5.40 level in the future.