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.