Polkadot’s DOT rose as much as 4% in the last 24 hours, climbing from $3.65 to $3.80 on institutional buying, according to CoinDesk Research’s technical analysis model.
The model showed that the breakout accelerated between 10:00-11:00 GMT as price rose from $3.68 to $3.79.
Volume spiked to 5.29 million units, nearly 3x the daily average of 1.83 million, confirming strong accumulation at $3.68 support, according to the model.
Resistance caps gains at $3.80 as profit-taking emerges on elevated volume.
The staking rate on Polkadot has slipped to 49.17% over the last week.
The rally in Polkadot came as the wider crypto market also rose, with the broader market gauge, the Coindesk 20, recently up 3.7%.
In recent trading, DOT was 3% higher over 24 hours, trading around $3.76.
Technical Indicators Analysis
- Institutional distribution at higher levels confirms breakdown of previous bullish structure from 24-hour surge.
- Strong high-volume support established at $3.68 level with exceptional volume confirmation.
- Key resistance emerges at $3.80 where price reverses on elevated volume.
- Sustained upward momentum with consistently higher lows signals continued bullish sentiment.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.