remained stable in the past 24 hours, with the token valued at $1.85.
The trading volume for the token was 55% higher than the 30-day average, as significant investments flowed into DOT during this period, according to CoinDesk Research’s technical analysis model.
DOT mirrored the overall momentum in the crypto market instead of reacting to specific token news. The broader market indicator, the CoinDesk 20 index, also showed no change over the past 24 hours.
The analysis indicated that institutional investors purchased assets at elevated prices.
This trend often signals the beginning of sustained upward movements when institutional capital accumulates before retail investors join in.
Technical Analysis
- Robust support established in the $1.72-$1.74 range, supported by high volume
- $1.86 serves as a resistance point, leading to multiple price rejections
- Volume surge of 55% above the 30-day average indicates institutional involvement; a 96% spike at $1.74 confirms the strength of the support zone
- $0.14 range between $1.72-$1.86 denotes a consolidation phase; attempts to break past $1.864 followed by retreats suggest prices are trading within a set range
- Upcoming resistance challenge targets the $1.86-$1.87 region; $1.83 serves as a stop-loss reference for long positions
Disclaimer: Some portions of this article were created using AI tools and have been reviewed by our editorial team to ensure their accuracy and compliance with our standards. For additional details, refer to CoinDesk’s complete AI Policy.
