Bullish Polkadot ReactionWe see that BINANCE:DOTUSDT reacts strongly at the 61.8% Fibonacci retracement. I believe this could mark the end of the (C) wave in terms of Elliott Wave theory.
This view is further supported by the impulsiveness of the reaction.
If price moves above 1.928, this would serve as confirmation of acceptance and the beginning of a third wave, targeting the area between approximately 2.179 and 2.437.
Overall, I believe the use case for DOT is solid and that it is worth taking a long position. I have already opened spot positions around 1.718.
In addition, the decision to introduce a capped supply of 2.1 billion DOT in September further strengthened my conviction and reinforced my long-term outlook on the project.
I am going long via spot, and if price drops below the low of December 26, 2025, I will continue to hold based on my conviction in the long-term potential of the project.
