Polkadot Aims for $1.40 as Bullish Momentum Continues in October 2026

Polkadot (DOT) is showing strong bullish momentum in October 2026, building on a 45.4% surge in September, its biggest monthly gain of the year. Analysts predict DOT could target $1.30 first and then $1.40, provided it holds above the critical support level of $1.19. As of now, DOT is trading near $1.23, caught between two rising trendlines at $1.09 and $1.33, with a breakout expected soon.

Support levels are closely watched, with the 20-day EMA at $1.17 and the 200-day EMA at $1.19 acting as key defensive lines. If DOT falls below these, the next supports are at $1.07 and $1.03. The Relative Strength Index (RSI) at 60.03 suggests there is still room for upward movement before the rally appears overheated.

One significant development is Referendum 1944, proposing the creation of a Polkadot-native stablecoin, dotUSD. The proposal, still undecided as of October 6, seeks $5 million in funding, $2.5 million in USDT to mint dotUSD and another $2.5 million in DOT for a liquidity pool. If approved, the stablecoin could add demand for DOT, particularly in later phases where it would be backed by DOT collateral.

Polkadot’s seasonality data shows mixed results for October, with gains in three of the last six years. Historically, October has seen an average gain of 3.91%, though the last two years saw declines. The current month has already seen a 0.83% gain, but historical trends suggest more modest upside potential.