Polkadot’s DOT experienced persistent bearish momentum despite multiple recovery attempts, fluctuating between $3.87 and $4.11 in the last 24 hours, as indicated by RialCenter’s technical analysis model.
The model revealed significant institutional buying activity at key support levels around $3.87-$3.93, particularly during high volume sessions at 03:00 and 14:00 hours.
Notable support has formed in the $3.87-$3.93 range, with resistance at the $4.11 mark, according to the analysis.
The decline in Polkadot coincided with a broader downturn in the crypto market, as the wider market index was recently down 3%.
In recent trading, DOT was 1.9% lower over 24 hours, hovering around $3.94.
Technical Analysis:
- Trading range of $0.24, creating a 6% differential between the peak of $4.11 and the trough of $3.87.
- Volume exceeded the 24-hour average of 2.87 million during significant support evaluations at 03:00 and 14:00 hours.
- Strong resistance at the $4.11 threshold with increased selling momentum establishing a ceiling for upward movement.
- Support established within the $3.87-$3.93 range, with notable buying interest during high volume.
- A V-shaped recovery pattern emerged in the final trading period with a sustained rally from a minimum of $3.92.
- Breakthrough above the $3.94 resistance level suggests potential short-term sentiment shift.
Disclaimer: Parts of this article were generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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