Polkadot’s DOT Declines 2.4% to Test Support at $3.32 Level
Polkadot's DOT is currently trading within a range of 4.4%. The price rose sharply to $3.46 but faced a significant correction, with support now at $3.32 being tested.
Transaction activity in the Polkadot ecosystem decreased by 36.9% in Q1, totaling 137.1 million transactions.
Recent trading shows DOT down 2.4% over 24 hours at approximately $3.31, mirroring the broader CoinDesk 20 market decline.
Technical Analysis:
- The strongest bullish momentum occurred between 19:00-20:00 on June 30, with volume reaching 1.81M and resistance established at $3.46.
- Support formed at $3.32 during July 1 at 07:00 with high volume of 1.34M.
- DOT closed near $3.33, indicating bearish sentiment after a brief recovery attempt at 14:00.
- A rally peaked at $3.36 at 15:06 before a sell-off intensified after 15:36.
- Volume spikes at 15:31-15:32 (267K combined) indicated institutional selling pressure.