Polkadot’s DOT Slips Over 3% as Market Weakness Mounts; Support Found Near $3.91
Polkadot’s native token DOT declined more than 3% in the past 24 hours, falling from $4.09 to $3.96, as technical indicators highlight key support and resistance zones, according to CoinDesk Research’s data model.
Support has been identified in the $3.91 to $3.93 range, with increased trading activity during overnight sessions suggesting strong buyer interest at those levels. Resistance is now forming between $4.03 and $4.07.
Volume surged to 3.97 million at 00:00 UTC—well above the average of 2.26 million—before tapering off, which analysts interpret as a sign of potential seller fatigue.
Adding to the narrative, data analytics firm The Tie held a webinar on Tuesday showcasing real-world applications for the Polkadot blockchain, though the news did little to stem DOT’s downward momentum.
The broader crypto market also saw red, with the CoinDesk 20 index down 1.2% at last check, reflecting general risk-off sentiment.
As of the latest trading session, DOT was changing hands near $3.95, down 3.1% on the day.
Technical Snapshot:
- DOT dropped from $4.09 to $3.96 in the past 24 hours.
- Key support sits at $3.91–$3.93, based on volume clusters.
- Resistance has formed at $4.03–$4.07.
- A significant volume spike occurred at midnight UTC.
- Breakdown below $4.02 in the final hour signaled short-term weakness.
- Declining volume in the final minutes may signal a near-term bottom.
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