Polkadot (DOT) is trading near the $2 mark, a price level that chart analyst Egrag Crypto has identified as a long-term accumulation "home" range since June 2022. The token experienced a sharp intraday decline before stabilizing around this critical area. Egrag Crypto, who has been accumulating DOT since prices were between $3 and $4 and adding more at lower levels, frames this zone as a structural floor based on historical price behavior, Wyckoff accumulation logic, and Polkadot's role in multi-chain infrastructure.
The analyst's long-term thesis is bolstered by Polkadot's inclusion in the Bitwise index fund, a $1.25 billion vehicle as of December 9, 2025, which signals institutional recognition. He also references a significant price wick from October 10, which could represent either a black swan event or a cyclical retest of lower liquidity zones consistent with four-year market cycles.
Chart data shows DOT briefly spiking above $2.30 before reversing sharply and dropping toward the $2.05–$2.10 area, where it consolidated. Trading volume increased during the initial rally before shifting as sellers entered the market. Egrag Crypto's analysis poses key questions: which Wyckoff schematic applies, whether the current level is the final bottom, and what the upside targets could be if a cycle bottom confirms. He maintains a long-term accumulation approach while acknowledging uncertainty about potential further downside.
Market participants are now watching to see if buyers defend this "home" range as a long-term opportunity. The news coincides with a broader context for Polkadot, including its upcoming halving of annual issuance from 120 million DOT to 55 million DOT on March 14, 2026, a change approved via OpenGov referendum in September 2025.
