Polkadots DOT experienced considerable volatility during the 24-hour trade period with sharp falls, which wipes out previous gains, according to Coindesk Research’s technical analysis model.
The model showed that DOT fell 6% in a dramatic 24-hour turn from August 10, 12:00 to 11 August 11:00 and fell from $ 4.15 to $ 3.91 in the middle of unusually robust sales volume.
Polkadot was facing a strong sales pressure as institutional liquidation drove prices lower and violated multiple support limits, according to the model.
The fall in dot came when the wider crypto market increased, with the wider market meter, Coindesk 20, recently up 0.5%.
In the latest trade, polkadot was 2.6% lower over 24 hours and traded about $ 3.91.
Technical Analysis:
- Trading area of $ 0.24 representing 6% volatility between $ 3.91 and $ 4.15 thresholds.
- Volume wave to 4.96 million in the fall in the last hour indicating institutional sales.
- Resistance established at $ 4.15 level after aborted rally trials.
- Support level fragile near $ 3.90 with potential degradation risk.
- Lower formation of high altitudes confirming a deterioration of bearish market structure.
- Volume exceeding 300,000 across multiple intervals over 11: 15-11: 30 sales pressure.
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.
