Polkadot (DOT) faces downward pressure, extending its recent decline. In the past 24 hours, DOT dropped nearly 1.24%, and as of March 6, 2026, the token also posted a 3.99% weekly loss amid weaker market sentiment and lower trader participation.
At the time of writing, Polkadot (DOT) is trading around $1.51, supported by ongoing market activity, according to CoinMarketCap. Its 24-hour trading volume stands at approximately $152.9 million, reflecting a 16.07% daily decline, signaling reduced short-term buying interest.
Meanwhile, market capitalization is valued at $2.55 billion, marking a 1.22% drop over the same period. The data highlights weakening momentum as DOT continues to face downward pressure amid softer market sentiment and lower trader participation.
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Technical Setup Shows Strong Selling Pressure
The Polkadot (DOT) daily chart shows a clear bearish structure with lower highs and lower lows. Price remains below a descending trendline, indicating strong selling pressure.
Immediate resistance sits near $1.67, while the closest demand zone appears around $1.20–$1.30 support. If the price faces resistance at $1.67 and is subsequently rejected, a bearish continuation is possible.
On the other hand, major price support levels include $1.30, $1.10, $1.00, and $0.70, representing areas where the price might encounter some liquidity and attract buyers to defend the price. If the bulls break through and hold above the hurdle of $1.70, a relief rally could begin.
The price targets to watch for the bulls, which have been identified as major resistance levels, are $2.34, $3.09, $3.88, and $5.53, according to crypto analyst Efloud. Only after the price breaks through these levels can the long-term bearish trend change.
TDOT ETF Launch Could Attract Institutional Interest
Asset manager 21Shares has announced that its Polkadot ETF, which has the ticker TDOT, is expected to be listed on the Nasdaq exchange on Friday. This will be the first U.S. ETF offering regulated access to Polkadot without needing to hold the cryptocurrency.
The value of the DOT token has the potential to rise with the increasing adoption of the network, the rise in the number of projects on the Polkadot network, the halving, the upgrades, and the overall positive sentiment in the cryptocurrency space.
The listing of the ETF has the potential to bring in institutional money, and this would give the cryptocurrency a boost in terms of price movement.
Why This Matters
Investors closely watching the DOT token may see the impact that the TDOT ETF is having on the price movements, which could present new trading opportunities.
The movements in the support and resistance areas could indicate the direction the token is going to go in the short term.
Also Read: Polkadot Transformation 2025: Emission Slashed 53% in Bold New Strategy