Polkadot’s DOT token confronted continued bearish momentum, fluctuating between $3.87 and $4.11 over the previous 24 hours, in response to CoinDesk Analysis’s technical mannequin. Regardless of repeated restoration makes an attempt, the token struggled to interrupt above vital resistance ranges.
Vital institutional shopping for exercise emerged close to the $3.87–$3.93 assist zone, significantly throughout high-volume periods at 03:00 and 14:00. This vary has develop into a pivotal assist stage, whereas $4.11 stays a robust resistance level the place promoting stress has capped upward strikes.
The broader cryptocurrency market additionally trended decrease, with the CoinDesk 20 index falling 3%, including to downward stress on DOT. On the time of research, DOT was buying and selling round $3.94, down 1.9% in 24 hours.
Technical indicators spotlight a slender $0.24 buying and selling vary, equating to a 6% differential between the latest excessive and low. Quantity spiked above the 24-hour common of two.87 million throughout assessments of the assist zone, underscoring energetic participation by consumers defending this stage.
Late buying and selling periods confirmed a V-shaped restoration from $3.92, with a modest rally hinting at bettering short-term sentiment. A sustained transfer above $3.94 may affirm a possible shift in momentum, however resistance at $4.11 have to be cleared for additional upside potential.
Buyers are carefully watching whether or not DOT can keep its assist zone amid ongoing volatility within the crypto market. A break beneath $3.87 may set off deeper declines, whereas a profitable breakout above $4.11 might set the stage for a broader restoration.
<Copyright ⓒ TokenPost, unauthorized copy and redistribution prohibited>
