Polkadot DOT Stabilizes After 4% Drop Amid Broader Crypto Weakness
DOT, the native token of the Polkadot network, declined 4% over the past 24 hours amid wider cryptocurrency market pressure. According to CoinDesk Research’s technical analysis, the token hit a low of $4.07 on elevated volume of 3.16 million, well above its 24-hour average of 2.31 million, establishing a solid support base.
Following the sell-off, DOT rebounded to the $4.15–$4.18 range, suggesting that institutional buying interest is helping stabilize the token. As of the latest trading session, DOT was down 4.2%, near $4.13, while the CoinDesk 20 index posted a 3.2% loss over the same period.
Technical Insights:
- Strong support confirmed at $4.07 during the dip.
- Price recovery to $4.15–$4.18 indicates potential consolidation.
- Elevated trading volume points to institutional accumulation.
- DOT appears to be stabilizing around current support levels.
In network news, Polkadot plans to consolidate its core system services into Asset Hub on November 4, creating the “Polkadot Hub” — a superchain designed to streamline ecosystem operations, according to an official announcement on X.
