Polkadot’s DOT Drops 5% Amid Increased Selling Pressure

Polkadot's DOT experienced a decline of over 5% in the last 24 hours, dropping from $3.76 to $3.56, according to CoinDesk Research.

Key points include:

  • Intraday high reached $3.87 on July 31 before selling pressure increased.
  • Volume surpassed the 24-hour average of 3 million during key breakdowns.
  • Resistance identified at $3.68 and support established between $3.55-$3.58.
  • Critical support level breached at $3.60 during the final hour of trading.
  • New resistance formed around $3.67.
  • Volume spikes noted at specific times exceeding 200,000 units.
  • Final three minutes showed negligible trading activity, indicating market exhaustion.

The overall crypto market reflected a downturn, with the CoinDesk 20 index down 3.7% recently.