Polkadot’s DOT Slides 5% Amid Surge in Marketwide Selling

DOT Drops Below $3.60 as Polkadot Faces Mounting Sell Pressure

Polkadot’s native token DOT declined over 5% in the past 24 hours, falling from $3.76 to $3.56, as intensified sell pressure swept across crypto markets, according to CoinDesk Research’s technical model.

The pullback followed a brief rally that saw DOT reach $3.87 on July 31. However, the upswing was short-lived, as selling accelerated on August 1 with volume spiking above the 24-hour average of 3 million tokens during key breakdown phases.

The model now identifies support in the $3.55–$3.58 region, while resistance has formed at $3.68. A decisive move below $3.60 during the final hour confirmed a bearish shift and established a lower price floor.

Notably, concentrated volume spikes above 200,000 tokens occurred between 13:45 and 13:54 UTC, pointing to increased liquidation activity. But minimal activity in the closing minutes of the session suggests traders may be pausing after the sharp move.

At the time of writing, DOT was trading near $3.64, down 5.3% on the day. Broader sentiment remains weak, with the CoinDesk 20 Index down 3.7% as macro-driven selling continues to weigh on digital assets.

Technical Snapshot:

• Price fell from $3.76 to $3.56 (–5%) in 24 hours
• Reached $3.87 peak on July 31 at 16:00 UTC before reversing
• Resistance confirmed at $3.68; secondary rejection at $3.67
• Support holding between $3.55–$3.58 after $3.60 breakdown
• High-volume sell spikes recorded between 13:45–13:54 UTC
• Drop in end-of-session activity suggests temporary seller fatigue

About The Author

ctleditor

See author's posts