declined 2% to $1.77 within the past 24 hours.
Trading volume increased by 35% compared to its 30-day average, per CoinDesk Research’s technical analysis model.
The most significant movement occurred during a sharp intraday drop that tested key support levels. The model indicated that DOT fell from $1.85 to $1.76 on notable volume of 8.81 million.
This represented 236% above the 24-hour simple moving average, according to the evaluation.
The token then swiftly rebounded back to $1.80. This price movement confirmed robust institutional support at the $1.76 psychological threshold, the model noted.
DOT lagged behind the broader cryptocurrency markets. The CoinDesk 20 index, a wider market benchmark, was 0.2% lower at the time of publication.
Technical Analysis:
- Robust support established at $1.76 psychological level; resistance at $1.805 necessitates a new catalyst for breakthrough
- Peak institutional engagement at 8.8 million tokens during intraday drop
- V-shaped recovery from session lows suggests absorption of selling pressure; consolidation pattern forming near $1.80
- Upside target at $1.82 dependent on volume confirmation exceeding $1.805; downside risk confined to $1.76 support area
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
