DOT Jumps 6% as Polkadot Bulls Push Price Beyond Key Resistance

Polkadot’s DOT Jumps Over 6% as Crypto Markets Rebound

Polkadot’s DOT token surged 6% on Tuesday, benefitting from a broader upswing across the cryptocurrency market. The price rally was fueled by strong trading activity and a decisive move above key resistance levels near $3.34 and $3.44, based on insights from CoinDesk Research’s technical analysis.

Analysts noted that DOT found firm support at around $3.25 during early trading at 01:00 UTC, with significant buying interest helping to stabilize the token before its subsequent rally.

DOT’s upward move coincided with a widespread recovery in the crypto market, as reflected in the CoinDesk 20 Index, which was up 4.2% at the time of reporting. Adding to the positive sentiment, Polkadot is slated to host a live AMA (Ask Me Anything) on X on July 8.

As of the latest update, DOT was changing hands near $3.57, marking a 7.2% increase over the past 24 hours.

Technical Analysis Highlights:

Over the past day, DOT advanced from $3.34 to $3.57.
Strong support emerged around the $3.25 level during the 01:00 UTC hour, underpinned by heightened trading volumes.
A significant breakout occurred between 13:00 and 15:00 UTC, fueled by buying momentum that saw 4.2 million tokens traded during the 15:00 hour alone, pushing DOT above the $3.34 resistance mark.
The most pronounced price jump happened between 16:04 and 16:06 UTC, when DOT surged approximately 3.2% amid a trading volume spike of 261,000 tokens, clearing resistance at $3.44.
Price movements have established an upward channel, with a pattern of higher highs and higher lows, pointing to sustained bullish sentiment.