experienced notable growth on Tuesday, increasing by 1.9% as Coinbase’s USDC integration announcement spurred technical breakout momentum, based on the analysis model from CoinDesk Research.
The model indicated that DOT climbed to $1.91 in a 24-hour span, establishing a series of higher lows despite some early fluctuations.
Trading volume was 17% higher than monthly averages, but the price movements suggested systematic accumulation rather than speculative trading, according to the model.
The analysis revealed solid support in the $1.87-$1.88 range through various successful tests.
Institutional flows increased as key factors aligned with the technical momentum.
The breakout was characterized by significant institutional volume of 229,817 tokens, which was three times the session averages, the model noted. Continued buying kept prices close to session highs.
Technical Analysis:
- Strong support established at the $1.87-$1.88 range through multiple tests
- Session peak of $1.94 signifies immediate upside target
- Surge in institutional volume was over 300% compared to average participation
- 24-hour volume reached 4.53 million tokens (87% above standard)
- Ongoing buying interest was sustained during consolidation periods
- Upward trend confirmed through successive higher lows
- Breakout sequence validated by volume surpassing the 3.59 million mark
- Upside targets extend towards the psychological range of $1.92-$1.93
- Volume-supported breakout lays the technical groundwork for further advancements
Disclaimer: Portions of this article were created with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For additional details, please refer to CoinDesk’s complete AI Policy.
