Polkadot’s dot has found a huge bearish momentum in the last 24 hours, retreating from $ 3.76 to $ 3.56, or more than 5%, according to CoinDesk Research’s technical review model.
The model showed that the DOT initially showed resilience, achieved an intraday of $ 3.87 on July 31, but then faced with the incessant sale of pressure combined with the pronounced volume of surge during the pivotal breakdown junctures on August 1st.
The token now has a range of $ 3.55- $ 3.58, with a resistance to the $ 3.68 level, according to the model.
In recent trade, the DOT is 5.3% less than 24 hours, trading around $ 3.64.
Polkadot refusal came as the broader crypto market also fell, along with the wider market gauge, CoinDesk 20’s index, which recently dropped 3.7%
Technical assessment:
- The price retreated from $ 3.76 to $ 3.56, representing a 5% decline within 24 hours.
- The Intraya Peak reached $ 3.87 at 16:00 UTC on July 31 before the sale of pressure intensified.
- The quantity exceeds the 24 -hour average of 3 million in the major damage periods.
- The huge resistance confirmed at the level of $ 3.68.
- Fresh support established around the $ 3.55- $ 3.58 range.
- The critical violation of support took place at $ 3.60 at the last time of rejection.
- The new resistance has formed around $ 3.67 level.
- Volume spikes exceed 200,000 units during 13: 45-13: 46 UTC and 13:54 periods of UTC.
- The neglected trading activity recorded in the last three minutes, suggesting fatigue in the market.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
