Polkadots DOT staged a strong improvement after falling up to 7%and jumping from $ 3.91 to $ 4.08 in the middle of high trading volumes, according to Coindesk Research’s technical analysis model.
The model showed that DOT navigated significant price fluctuations during the 24-hour period from July 23, 19:00 to July 24, 18:00, which fluctuates between $ 3.91 and $ 4.20 before settling at $ 4.08.
Earlier this week, Securities and Exchange Commission (SEC) withdrew its accelerated approval to a Bitvis crypto exchange traded fund (ETF), which plans to include DOT among its top holdings after market capital.
Bounce in polkadot came when the wider crypto market also increased, with the wider market meter, Coindesk 20, recently up 1.4%.
In the latest trade DOT was 2% lower over 24 hours and traded about $ 4.09.
Technical Analysis:
- The total trading area of $ 0.28 representing 7% volatility between $ 4.20 Maximum and $ 3.91 minimum.
- Critical support level established at $ 3.96 with high volume confirmation above 4.28 million average.
- Resistance zone identified at $ 4.10 level showing price rejection patterns.
- Volume tip of 73,061 in the decline phase indicating institutional sales pressure.
- Recovery pattern suggests potential continuation against $ 4.13 target level.
- Net closing of 2% from opening despite strong jumps from low nights.
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.
