Polkadot’s DOT Drops 6% Amid Strong Selling Pressure
Polkadot's DOT experienced significant volatility, with a 6% drop from $4.15 to $3.91 within 24 hours due to strong selling pressure. The decline occurred despite a rise in the broader crypto market.
Key points:
- 24-hour trading range: $0.24 (6% volatility between $3.91 and $4.15)
- Final hour volume surged to 4.96 million, indicating institutional selling
- Resistance established at $4.15 after rally attempt failed
- Support level fragile near $3.90, with breakdown risk
- Lower highs formation indicates bearish market structure
- Volume exceeded 300,000 during peak selling pressure between 11:15-11:30
Current trading reflects a 2.6% decrease, hovering around $3.91.