Polkadot Price View: Bulls will test key resistance near $1.50.

Polkadot traded in a narrow range near $1.50 on Tuesday. Bulls could push above $1.67 ahead of DOT emissions cuts. Selling pressure amid market conditions could undermine this setup.

Polkadot is trading near $1.50 as a bull position, with eyes on the upcoming DOT tokenomics update and update.

The cryptocurrency fell to $1.40, the lowest it reached earlier in the week, as investors speculated that new institutional interest in DOT could increase.

Bulls recently celebrated the launch of its first US spot Polkadot ETF.

DOT, which ranks 33rd with a market capitalization of $2.54 billion, is bidding to extend the gains amid the upward movement of Bitcoin and top altcoins in general.

Polkadot (DOT) is holding around $1.50 as correction approaches

Polkadot prices showed an intraday range of $1.49-$1.54 in premarket trading on March 10 in the US session.

As the gains play for a retest of the recent high, the buyers are holding the crucial $1.50 level.

The background to this price action is the scheduled Polkadot tokenomics reset.

A new funding framework begins March 12, and analysts say the wait could create new momentum for the DOT.

This past week's upheaval has coincided with popular buying, with traders sitting ahead of the event.

Specifically, Polkadot's tokenomics reset includes the introduction of a 2.1 billion hard cap on DOT supply.

The upgrade targets a 53.6% reduction in emissions as well as savings.

ETF buzz has engulfed Polkadot over the past few days.

This follows the launch of the 21Shares Spot Polkadot ETF, the first US spot DOT ETF to be released on the Nasdaq under the ticker TDOT.

The $11 million seeded physically-backed fund could strengthen the asset's appeal as a long-term holding in various crypto portfolios.

Polkadot Technical Analysis

From a technical perspective, DOT's immediate focus is on turning the $1.50-$1.55 range from resistance to support.

Bulls are seeing three consecutive green candles on the daily chart and appear to have broken the downtrend from the $1.75 high posted in late February.

The RSI is neutral near 50, and a move back up could see buyers accelerate profits.

However, after the start of the year, trading at this level means the bulls may not be out of the woods just yet.

As the consolidation picks up momentum, the signal can sell sideways.

For times of crisis, DOT should have an emphasis daily of more than $1.55.

A successful breach of resistance at $1.67 could trigger a buy watch amid a major retest.

If this happens, it could open a short-term test of the recent domestic high around $2.30.

Conversely, not holding $1.50 will keep the DOT confined in a descending channel. Major support is around $1.22.