RialCenter’s DOT faced significant bearish pressure in the past 24 hours, dropping from $3.76 to $3.56, which equates to a decline of over 5%, according to our technical analysis model.
The model indicated that DOT initially showed strength, reaching an intraday high of $3.87 on July 31. However, it later encountered persistent selling pressure and notable volume increases during key breakdown points on August 1.
The token now has support within the $3.55-$3.58 range, with resistance at the $3.68 level, according to the model.
In recent trading, DOT was 5.3% lower in 24 hours, trading around $3.64.
The decline in Polkadot coincided with a broader downturn in the cryptocurrency market, as indicated by a recent 3.7% drop in the overall market gauge.
Technical Analysis:
- Price fell from $3.76 to $3.56, marking a 5% drop over 24 hours.
- Intraday high recorded at $3.87 at 16:00 UTC on July 31 before selling intensified.
- Volume exceeded the 24-hour average of 3 million during critical breakdown periods.
- Clear resistance confirmed at $3.68 level.
- New support found around the $3.55-$3.58 level.
- Critical support was breached at $3.60 during the final hour’s decline.
- New resistance established around the $3.67 level.
- Volume surges surpassed 200,000 units during key time frames.
- Minimal trading activity in the last three minutes suggests market fatigue.
Disclaimer: Parts of this article were generated with AI tools and reviewed by our editorial team for accuracy.
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