Polkadot (DOT) gained 4% to $2.21 over the past 24 hours, following a sharp volume surge that pushed the token from $2.12 to session highs of $2.39, according to CoinDesk Research.
During the breakout, trading volumes spiked 284% above the moving average before moderating as prices settled near $2.20. The model noted measured institutional participation rather than aggressive accumulation, with total 24-hour volume 31% below the weekly average, suggesting selective buying.
DOT largely tracked broader crypto market movements, with the CoinDesk 20 index up 2.4% at publication.
Technical Highlights:
- Support confirmed at $2.19, reinforced by institutional buying on dips.
- Resistance at $2.39 near session highs.
- $0.20 trading range reflects an 8.9% bandwidth and elevated volatility.
- Volume peaked at 15.89 million tokens during breakout versus a 2.81 million average.
- V-shaped recovery indicates buyer presence at support.
- Range compression near $2.19–$2.20 signals near-term consolidation.
- Higher lows maintain a constructive bias.
- Downside risk contained near $2.19.
- Upside targets $2.39 resistance, pending volume confirmation.
Polkadot appears to be consolidating in a controlled range, with institutional support at key levels and potential upside contingent on a sustained move above $2.39.
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