fell 4.5% to $1.75 over the past 24 hours, underperforming broader crypto markets.
The broader market gauge, the CoinDesk 20 index, was 2.5% lower at press time.
The drop in DOT came on particularly thin volume, tracking 9% below its 30-day average 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 relative to the broader cryptocurrency complex as capital rotated toward higher momentum assets.
The deviation reflects the waning investor appetite for the token despite recent developments in the ecosystems, with market participants demanding clearer catalysts before re-entering size, according to the model.
With fundamental drivers absent, technical levels dominated price action as the DOT tested key support around current levels, the model said.
Technical analysis:
- Primary support zone reinforced at $1.76
- Tiered structure intact as market awaits directional catalyst
- Attendance fell 9% below the 30-day moving average prior
- Institutional flows remain notably absent from recent trading sessions
- Sideways consolidation pattern continues within established limits
- Downside risk limited given modest price increase and support defense
- Upside potential limited by volume issues and relative weakness
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
