Polkadots dot rose 6% higher in the middle of a rally in crypto markets, with a strong volume that supports a crucial breakout through $ 3.34 and $ 3.44 levels, according to Coindesk Research’s technical analysis model.
The model showed the price found strong support for $ 3.25 over 01:00 hours of volume above average, establishing a solid foundation for the subsequent rally.
The move higher in dot came in the midst of a wider rally in crypto markets, with the wider market meter, Coindesk 20, an increase of 4.2% at publication time. Polkadot also holds A LIVE AMA (Ask me for something) on July 8th.
In the latest trade, DOT was 7.2% higher over 24 hours and traded about $ 3.57.
Technical Analysis:
- Dot climbed from $ 3.34 to $ 3.57 over the past 24 hours
- The price found strong support for $ 3.25 within 01:00 hours of volume above average, establishing a solid foundation for the subsequent rally.
- A crucial breakout occurred over 13: 00-15: 00 UTC period with unusually high volume (4.2 mi 15:00 hours alone)push dot through previous resistance to $ 3.34.
- The most explosive price movement occurred between 16: 04-16: 06 UTC, where dot burst almost 3.2% with unusually high volume (261K)that breaks through key resistance to $ 3.44.
- Price action formed a clear uphill channel with higher low and higher heights, which suggested continuing Bullish Momentum.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
