Polkadot’s DOT Price Falls Over 6% Amid Market Sell-Off
DOT decreased over 6% in the last 24 hours, dropping from $4.02 to $3.77 amid a broader crypto market sell-off, with the CoinDesk 20 index declining by 2.5%.
Key observations include:
- Selling pressure increased significantly between 09:00 and 11:00 UTC, with trading volumes surpassing the 24-hour average of 2.29 million.
- Resistance is identified at $3.83, while support levels are weakening towards $3.74.
- Trading volumes peaked at over 340,000 during a one-minute timeframe indicating capitulation.
- A downward channel has formed, confirming resistance at $3.83.
- Valuations could not maintain critical technical levels due to heightened selling activity.
Current trading shows DOT at approximately $3.775, reflecting a 6.2% decline over 24 hours.