fell 2% to $1.77 in the last 24 hours.
Volume increased 35% above its 30-day average, according to CoinDesk Research’s technical analysis model.
The most dramatic action of the session came during a sharp intraday decline that tested critical support levels. The model showed that DOT fell from $1.85 to $1.76 on exceptional volume of 8.81 million.
This marked 236% above the 24-hour simple moving average, according to the model.
The token then executed a rapid V-shaped recovery to $1.80. This price action confirmed strong institutional support at the psychological level of $1.76, according to the model.
DOT underperformed the broader crypto markets. The broader market gauge, the CoinDesk 20 index, was 0.2% lower at press time.
Technical analysis:
- Strong support confirmed at the psychological level of $1.76; Resistance at $1.805 requires a new catalyst to advance
- Peak institutional activity of 8.8 million tokens during intraday dip
- V-shaped recovery from session lows indicating absorption of selling pressure; consolidation pattern forming near $1.80
- Upside target at $1.82 depending on confirmation of volume above $1.805; Downside risk limited to $1.76 support zone
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.
