Polkadot Slides 11% to $2.02 on Heavy Selling Amid Market Weakness
Polkadot (DOT) plunged to $2.02 on Monday, falling sharply from $2.27 as technical breakdowns accelerated on unusually high volume, pushing the token toward the psychological $2.00 level. According to CoinDesk Research’s technical model, the 11.4% decline ranks among the largest single-session losses for DOT this year.
Trading volume surged to 14.6 million tokens, roughly 280% above the 24-hour average, reflecting strong selling pressure. The breakdown intensified overnight as DOT slipped below critical support at $2.05 around midnight UTC.
Attempts at recovery failed, with buyers unable to reclaim even modest levels near $2.09 and $2.06, confirming bearish momentum. Analysts note that $2.00 now represents a key psychological support level and the next potential downside target.
The broader cryptocurrency market also retreated, with the CoinDesk 20 Index falling 7.5% amid widespread selling.
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