Polkadot's DOT Slips 3% as Failed Recovery Attempts Signal Weakness

Polkadot's DOT dropped more than 3% in the last 24-hours, sliding from $4.09 to $3.96, according to CoinDesk Research's technical analysis model.

Support has formed around $3.91-$3.93 levels with notable volume spikes during overnight trading sessions, according to the model.

Volume analysis points to exhausted selling near current support zones.

The Tie presented a webinar today about real-world use cases for the Polkadot blockchain, according to a post on X.

The drop in DOT came as the wider crypto market also fell, with the broader market gauge, the Coindesk 20, recently down 1.2%.

In recent trading, DOT was 3.1% lower over 24 hours, trading around $3.95.

Technical Analysis:

• Price declined more than 3% over 24-hour period from $4.09 to $3.96.
• Support levels established around $3.91-$3.93 range.
• Resistance zone identified between $4.03-$4.07.
• Volume spike to 3.97 million at 00:00 UTC, above 2.26 million average.
• Critical support break occurred at $4.02 level during final hour.
• Volume diminished in final minutes suggesting selling exhaustion.

Disclaimer: Parts of this article were generated with the 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.