Polkadot’s Elliott Wave structure shows price hovering near $2.03, testing crucial Fibonacci support zones.
The platform has maintained 1,401 active developers and 113k commits a sign of sustained infrastructure development and strong ecosystem engagement.
DOT’s market cap dropped from the $3.4B–$3.5B to $3.2B–$3.3B range.
After a slight weekly drop, Polkadot is trading at $1.96. Developer activity has remained strong. Analysts are paying close attention to key support levels and Fibonacci zones to gauge where the price may move next.
Technical Analysis of DOT Price Movement
Polkadot’s Elliott Wave corrective setup, price is trading near $2.03.The price is holding above an important support area between $2.012 and $2.053. A zone that matches the 78.6% and 88.7% Fibonacci levels in the structure.
If the price falls below the December low, it may move toward the $1.75 support area. If the current support holds, the market could attempt an upward move in wave 2 or C. The area between $2.45 and $3.10 is viewed as the main retracement zone, with the 50–78.6% Fibonacci levels acting as possible resistance.
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Trading volume has stayed steady, showing continued activity even during the recent drop. Analysts are watching the $2.01 level closely because falling below it could break the current wave setup. The chart signals that the market remains in a corrective phase while waiting for its next clear direction.
Developer Activity Strengthens Ecosystem
Polkadot has around 1,401 active developers and more than 113,000 code commits ,this has earned it a spot in the upper-mid group of active blockchain ecosystems.
Developer activity has been supporting upgrades like the Polkadot 2.0 and parachain performance. The platform is not growing quickly as Ethereum or Solana, however the ongoing work shows there is consistent participation from its developer community.
These efforts show that Polkadot’s multi-chain system is being actively expanded and improved. Developers have continued to build and update tools, to help the ecosystem move forward even during uncertainty .
Market Cap and Trading Performance
Polkadot’s market cap moved from steady levels to noticeable volatility between December 6 and December 12. Early in the week, the market cap stayed around $3.4–$3.5 billion, then briefly climbed to $3.9 billion.
The rise did not last long, as the market cap fell below $3.6 billion and later settled near $3.2–$3.3 billion by December 12. Trading volume remained steady during this period, showing that the decline happened with active market participation.
DOT’s price has dropped 7.83% over the past week, due to continued short-term volatility. This is reflecting a shift in sentiment as the ecosystem remains active.
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