Polkadot’s DOT Drops Over 3% as Price Struggles to Reclaim Momentum
Polkadot’s DOT token fell over 3% in the past 24 hours, slipping from $4.09 to $3.96, as upside attempts continue to falter, according to CoinDesk Research’s technical model.
The analysis identifies a key support range between $3.91 and $3.93, where volume spikes during overnight sessions suggest buyers are stepping in. Despite that, resistance is proving strong between $4.03 and $4.07, limiting further recovery.
A notable volume surge of 3.97 million occurred at 00:00 UTC—well above the 2.26 million average—but faded as the session progressed. A breakdown below $4.02 further weakened the short-term technical outlook, though waning volume into the close indicates potential seller exhaustion.
DOT’s decline came amid broader market weakness, with the CoinDesk 20 Index down 1.2% over the same period. At last check, DOT was trading near $3.95, down 3.1% on the day.
Meanwhile, sentiment around the Polkadot ecosystem received a boost from a webinar hosted by The Tie, highlighting real-world use cases for the blockchain. However, the event did not appear to influence price action.
Technical Summary:
- 24-Hour Decline: -3.1%
- Current Price: ~$3.95
- Support Range: $3.91–$3.93
- Resistance Zone: $4.03–$4.07
- Peak Volume: 3.97M at 00:00 UTC
- Key Breakdown: $4.02 level breached
- Market Context: Broader crypto market down 1.2%
