Polkadot (DOT) Slides 12% as Bears Break Key Support at $2.87

Polkadot (DOT) experienced a significant 12% drop, falling to $2.56 from session highs of $2.99, due to heavy institutional selling pressure that overwhelmed technical defenses. The defining moment occurred around 03:00 UTC when exceptional selling pressure, involving 5.49 million tokens—more than double the 24-hour moving average—led to a decisive break below the crucial $2.87 support zone. Technical analysis indicates that primary support at $2.76 has now broken, with the next upside target being the $2.80-$2.82 resistance zone, while the $2.87 breakdown level remains the key threshold for a bullish reclaim.

This market movement coincided with broader crypto market volatility, as Bitcoin slid below $106K, leading to over $1 billion in leveraged trading liquidations across digital assets.

(Source：CoinDesk)