Polkadot is nearing a crucial support level of 3.74 USD, which could determine its potential bullish reversal. If this level holds, it may catalyze an upward movement towards 5.25 USD and 6.50 USD. However, a failure to maintain this support could lead to further declines.

As of now, Polkadot trades at 4.78 USD, reflecting a 1.59% increase. The growing Open Interest and social metrics suggest that traders are anticipating volatile price movements, with the expectation that increased buying activity may follow should the support level be validated.

Investor interest in DOT is heightened, with rising social dominance and momentum indicating optimism. The increasing Open Interest has reached 316.51 million USD, reflecting more traders entering the market, further supporting the potential for a bullish reversal.