Polkadot Surges on Institutional Inflows, Faces Resistance Near $3.80
Polkadot’s DOT token climbed as much as 4% over the past 24 hours, buoyed by renewed institutional interest and broader crypto market strength. The asset rose from $3.65 to a session high of $3.80 before easing slightly to trade around $3.76.
CoinDesk Research’s technical analysis noted that the strongest upward movement occurred between 10:00 and 11:00 GMT, as DOT advanced from $3.68 to $3.79 on a sharp spike in volume. Trading activity surged to 5.29 million DOT—nearly three times the daily average—signaling robust accumulation around the $3.68 support level.
The rally stalled at $3.80, where selling pressure emerged, suggesting short-term profit-taking near that resistance zone. Despite the pullback, technical momentum remains favorable, with the formation of higher lows pointing to continued bullish sentiment.
DOT’s performance aligned with broader market gains, as the CoinDesk 20 Index rose 3.7% during the same period.
However, the Polkadot network’s staking participation has dipped, with the staking rate falling to 49.17% over the past week. This decline could reflect a shift in investor behavior, with more tokens entering circulation and potentially supporting short-term liquidity.
Technical Summary
- Volume Spike: 5.29M DOT traded—almost 3× the daily average.
- Support Level: Confirmed buy-side interest at $3.68.
- Resistance Zone: Rejection at $3.80 on elevated volume.
- Market Structure: Higher lows suggest sustained upward trend.
- Staking Trends: Staking rate drops to 49.17%, signaling possible rotation into active trading.
DOT remains in a near-term uptrend, but a decisive break above $3.80 will be key to unlocking further upside. A failure to hold $3.68 could trigger consolidation or a pullback in the sessions ahead.
