Polkadot's DOT slips 2% on above average volume

Polkadot's DOT cryptocurrency experienced a 2% decline over the last 24 hours, settling at $1.77, on trading volume that was 35% higher than its 30-day average. During the session, DOT saw a sharp intraday drop from $1.85 to $1.76 on exceptional volume, which was 236% above the 24-hour simple moving average. This move tested critical support, but the token quickly executed a V-shaped recovery back to $1.80, which technical analysis suggests confirmed strong institutional support at the $1.76 psychological level. DOT underperformed the broader crypto market, as indicated by the CoinDesk 20 index being slightly lower. Technical analysis points to $1.76 as strong support, with resistance at $1.805, requiring a fresh catalyst for a breakthrough, while an upside target is set at $1.82 contingent on volume confirmation above $1.805.

(Source：CoinDesk)