According to CoinDesk Research’s technical analysis model, the price of Polkadot’s DOT dropped more than 3% in the last 24-hours, sliding from $4.09 to $3.96. The model also shows that support has formed around the $3.91-$3.93 levels, with notable volume spikes during overnight trading sessions. This suggests that there may be exhausted selling near the current support zones.
The Tie, a data analytics platform, presented a webinar today about real-world use cases for the Polkadot blockchain. This could potentially bring more attention and adoption to the project, but it did not prevent the drop in DOT’s price. The wider crypto market also fell, with the Coindesk 20 index down 1.2%.
At the time of writing, DOT was trading around $3.95, 3.1% lower than its price 24 hours ago. The technical analysis model also shows that there is a resistance zone between $4.03-$4.07, and a volume spike of 3.97 million was recorded at 00:00 UTC, which is above the average of 2.26 million. However, in the final minutes of trading, the volume diminished, suggesting that selling exhaustion may have occurred.
It is important to note that this article was generated with the assistance of AI tools and has been reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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