Polkadot (DOT) edged lower over the past 24 hours, moving largely in line with the broader cryptocurrency market’s subdued consolidation trend.
DOT slipped from $2.16 to $2.12, forming a sequence of lower highs within a tight $0.07 range. The move generated 3.2% intraday volatility, according to CoinDesk Research’s technical analysis model. The CoinDesk 20 Index (CD20) was down 1.2% at publication time, reflecting mild weakness across leading assets.
Trading activity remained largely typical, with volumes running 9.8% above the seven-day moving average. The model noted that this profile indicates routine market participation rather than meaningful institutional rotation or heightened retail conviction.
A notable volume spike occurred on Dec. 8 at 20:00, when roughly 5 million DOT traded — an 80% surge above the 24-hour average. The model said the burst confirmed resistance near $2.15 and reinforced support around $2.09.
Technical Analysis
- Support/Resistance: Strong support has formed at $2.09 following institutional buying during an intraday drop, while resistance persists at $2.15–$2.16 after repeated high-volume rejections.
- Volume Context: With activity only 9.8% above the weekly baseline, participation remains orderly; the 80% spike at resistance strengthens the current range structure.
- Market Pattern: DOT continues to trade between $2.09 and $2.16, with momentum fading late in the session. A pattern of lower highs suggests near-term pressure within the range.
- Outlook: Clearing $2.16 would open upside targets at $2.20–$2.25. A breakdown below $2.09 would put the $2.00 psychological level in focus. Until then, range-bound trading strategies remain most appropriate.
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