Polkadot’s DOT Trading Between $3.87 and $4.11 Amid Bearish Trends
Polkadot's DOT is facing bearish momentum, trading between $3.87 and $4.11 over the last 24 hours, as per CoinDesk Research's analysis. The broader crypto market, reflected by the Coindesk 20, has also declined by 3%.
Key points from the technical analysis include:
- Trading range of $0.24 represents a 6% difference between the high of $4.11 and low of $3.87.
- Volume exceeded the 24-hour average of 2.87 million during significant support evaluations at 03:00 and 14:00 hours.
- Resistance is strong at the $4.11 level, limiting upward price movement.
- Support established in the $3.87-$3.93 range, with notable buying activity at higher volumes.
- A V-shaped recovery occurred towards the end of trading, rallying from a low of $3.92.
- A breakthrough above $3.94 may signal a potential shift in short-term sentiment.
Currently, DOT is down 1.9%, trading around $3.94.