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Polkadot Slumps as $3.80 Support Breaks
Polkadot’s DOT token fell under pressure Thursday, slipping 4% to $3.75 as sellers overpowered buyers and key support levels gave way. The move tracked weakness in the broader crypto market, with the CoinDesk 20 Index down 2.7% over the same period.
DOT traded in a narrow $0.15 band, showing 4% volatility, according to CoinDesk Research’s technical analysis model. Resistance at $3.90 once again capped upside moves, while the breakdown through $3.80 triggered a sharp volume spike of 2.21 million tokens.
Trading data highlighted persistent selling pressure:
- Resistance at $3.90 remains intact after multiple tests.
- Breakdown below $3.80 accompanied by heavy volume.
- Trading range held between $3.90–$3.75 with 4% volatility.
- A single liquidation-driven selloff at 14:06 UTC saw volume surge to 380,614 units.
- Multiple recovery attempts above $3.75 failed, reinforcing bearish sentiment.
As of the latest session, DOT was down 3.6% on the day, changing hands near $3.75. The repeated bounce failures confirm sustained selling momentum across timeframes, leaving the token vulnerable to further downside.
