down 2% to $1.77 over the past 24 hours.
Volume rose 35% above its 30-day average, according to CoinDesk Research’s technical analysis model.
The session’s most dramatic action hit during a sharp drop during the day that tested critical support levels. The model showed DOT falling from $1.85 to $1.76 on unusual volume of 8.81 million.
This marked 236% above the 24-hour simple moving average according to the model.
The token then performed a quick V-shaped recovery back to $1.80. This price action confirmed strong institutional support at the $1.76 psychological level, the model said.
DOT underperformed broader crypto markets. The broader market gauge, the CoinDesk 20 Index, was 0.2% lower at press time.
Technical analysis:
- Strong support confirmed at $1.76 psychological level; resistance at $1,805 requires fresh catalyst for breakthrough
- Peak institutional activity at 8.8 million tokens during intraday decline
- V-shaped recovery from session declines, indicating absorption of selling pressure; consolidation pattern forming near $1.80
- Upside target of $1.82 subject to volume confirmation above $1.805; downside risk limited to $1.76 support zone
Disclaimer: Portions 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.
