fell 4.5% to $1.75 in the last 24 hours, underperforming the broader crypto markets.
The broader market gauge, the CoinDesk 20 index, was 2.5% lower at press time.
DOT’s decline occurred on noticeably thin volume, 9% below 30-day averages and highlighting the absence of institutional participation that typically drives sustained moves, according to CoinDesk Research’s technical analysis model.
The model showed that DOT exhibited relative weakness against the broader cryptocurrency complex, as capital rotated into higher momentum assets.
The divergence reflects declining investor appetite for the token despite recent ecosystem developments, with market participants demanding clearer catalysts before recommitting to size, according to the model.
With the absence of fundamental drivers, technical levels dominated the price action as DOT tested key support around current levels, according to the model.
Technical analysis:
- Main support zone strengthened at $1.76
- Range structure intact as market awaits directional catalyst
- Participation fell 9% below the 30-day moving average during the advance
- Institutional flows remain notably absent in recent trading sessions
- Sideways consolidation pattern continues within established limits
- Limited downside risk given modest price appreciation and support defense
- Upside potential limited by volume concerns and relative weakness
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
