Polkadot’s DOT Falls Over 6% as Selling Pressure Mounts, Support Weakens

Polkadot’s native token DOT dropped more than 6% over the past 24 hours, falling from $4.02 to $3.77 amid broad weakness across the crypto market. The decline came as the CoinDesk 20 Index slid 2.5%, reflecting a wider risk-off move across digital assets.

The most intense selling occurred between 09:00 and 11:00 UTC, when trading volumes surged above the 24-hour average of 2.29 million, according to CoinDesk Research’s technical analysis model. During this period, DOT broke through several key support levels, setting a clear downward trend.

Technical indicators now show resistance forming at $3.83, with support weakening toward $3.74. As of the latest data, DOT was trading near $3.775, down 6.2% on the day.

Key Technical Highlights:

• 24-Hour Volume: Averaged 2.29 million, with significant spikes during peak distribution.
• Resistance Levels: $3.83 remains the primary cap, with $3.87 identified as a strong resistance zone during heavy selling.
• Capitulation Signal: Over 340,000 tokens traded between 11:49 and 11:50 UTC, indicating forced selling or panic exits.
• Trend Structure: A defined downward channel has formed, with lower highs and weakening support.
• Support Levels: Slipped to $3.74 in late trading as pressure continued to build.
• Technical Breakdown: DOT failed to hold key levels, confirming bearish momentum.

With DOT unable to maintain prior support zones and volume-driven sell-offs intensifying, market sentiment appears firmly tilted to the downside for now.