The technical breakdown erased earlier gains as DOT plunged through $2.19 support on heavy volume.
Currently at $1.84, DOT has support at the $1.83 level and resistance at $1.88.
DOT is facing pressure as it tries to retake the $1.76 support/resistance level.
DOT has support in the $1.72-$1.74 zone.
The decline occurred on volume that was 35% above the token's 30-day average.
Strong selling pressure overwhelmed positive Coinbase integration news as the psychological $1.90 level failed to hold.
The exchange partnership sparked measured buying as volume rose 17% above monthly averages.
The Polkadot token erased earlier gains amid elevated volume, falling from a high of $2.09 to $1.97.
The token has support at the $2.19 level and resistance at $2.39.
The token has support at $2.09 and resistance in the $2.15-$2.16 zone.
The token has support at $2.05 and resistance near the $2.16 level.
DOT outperformed the broader crypto market as a 60% volume surge validated the breakout above a critical technical threshold.
The token outpaced broader crypto markets as volume spiked 34% above weekly averages.
DOT collapsed to $2.02 as technical breakdown accelerated on massive volume, exposing the psychological $2.00 level.
The altcoin carved out a $0.21 trading range, marking 9% intraday volatility as bearish forces gained control.
Polkadot’s price action is beginning to hint at a possible shift in momentum, with a reversal setup forming just below the critical $2.85 level. The bulls are gradually building pressure, eyeing a breakout that could confirm a change in trend. Still, the presence of strong resistance overhead means the coming sessions will be crucial in determining whether DOT can break free or face another rejection. DOT’s Downtrend Shows Signs Of Exhaustion As Buyers Eye A Short-Term Recovery Giving a follow-up on the expected path of DOT in the 4-hour timeframe, Elliott Waves Academy revealed that the series of declines through the sub-waves of the recent impulsive move may be nearing its end. This suggests that the current downward trend is exhausting itself, at least in the short term, with a potential recovery ahead. Related Reading: Polkadot Recovery Stalls As Bearish Pressure Returns With $3.5 In Sight Elliott Waves Academy observes that a diagonal pattern appears to be forming, which is outlining the intricate details of wave (1)/(A). This diagonal formation is key to the analysis, as it typically signals the termination of a prior trend and precedes a reversal. The analyst points to a confirmed break above the upper boundary of this diagonal pattern. Such a break would officially open the path for an upward recovery toward the zone between $3.3423 and $3.36538. On the other hand, the $2.2848 level is deemed crucial for maintaining the immediate recovery outlook. Elliott Waves Academy warned that if this critical $2.2848 level is broken, further significant downside is expected through an extension of the existing bearish waves. Polkadot Remains Trapped Beneath Major HTF Resistance Levels Crypto_Jobs shared on X that the long-term chart for Polkadot remains largely stagnant and constrained beneath major high-timeframe (HTF) resistance zones at $3.200 and $3.780. The analyst cautioned traders to remain conservative with any swing (long) setups while the price trades below these critical resistance barriers. Related Reading: Bitcoin Breakout Is A Trap—Analyst Predicts Pain Before $160,000 Surge Examining the current price action, Crypto_Jobs described market conditions as neutral, with Polkadot fluctuating within a tight range between $2.500 and $2.700. The sideways movement reflects a lack of clear direction, as both bulls and bears struggle for dominance. Despite this period of indecision, the chart showcases an emerging pattern that could soon dictate the next significant move. The crypto analyst noted the possible formation of an inverse head and shoulders pattern, with a neckline around the $2.700–$2.850 to $3.00 zone. A confirmed breakout above this neckline could signal renewed bullish momentum, potentially leading to a 5–10% price surge. Featured image from Medium, chart from Tradingview.com
Heavy institutional selling pressure triggered a technical breakdown in DOT.
The token slumped 4% amid a wider decline in crypto markets.
Support has formed around the $4.05 level, with resistance at $4.11.
The stablecoin sector is entering a new phase of competition, with major players unveiling fresh initiatives to capture part of the $280 billion market. On Sept. 22, PayPal, Bitfinex-backed Plasma, and Polkadot’s Hydration protocol announced new projects to strengthen the role of dollar-pegged assets in global finance. Neobank, DeFi, and Payments Plasma is positioning itself […]
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Polkadot’s DOT token slid nearly 5% in the past 24 hours, despite the network’s community approving a landmark governance proposal that reshapes its tokenomics. On Sept. 14, the team confirmed via X that the community had passed the “Wish for Change” proposal, which sets a hard cap of 2.1 billion DOT. The move ends Polkadot’s […]
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The Polkadot token tumbled amid increased selling pressure as support levels failed.
Support has formed in the $3.90-$3.91 zone, with resistance at $4.02.
Polkadot is moving to reposition itself in the current bull market by introducing a dedicated unit to bridge its ecosystem with institutional capital. On Aug. 19, the network announced the launch of Polkadot Capital Group, a capital markets-focused division designed to attract Wall Street investors and build stronger ties with traditional finance. According to the […]
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The new group’s offerings will cover centralized and decentralized exchange infrastructure, real-world asset tokenization, staking, and decentralized finance.
Successful defence of the $3.88-$3.92 consolidation range suggests the potential for further appreciation toward the $4.15-$4.20 Fibonacci extension targets.
Support has formed at $3.90 with resistance at the $4.15 level.
Polkadot rallied on triple the normal volume as institutional buyers drove momentum.
Bifrost had secured over 81% of DOT’s liquid staking token (LST) market, boasting more than $90 million in total value locked.
In a recent market update, CryptonautX pointed out that Polkadot (DOT) is gaining notable bullish momentum as the new week begins. The analyst emphasized that DOT is not only showing strength in its price action but is also forming a well-defined breakout structure, signaling the potential for further upside. With momentum building and technical indicators aligning, DOT appears to be positioning for a strong move in the days ahead. Polkadot Gears Up For Potential Continuation Rally According to CryptonautX, Polkadot has broken out of its recent consolidation phase with a powerful upward push. This breakout reflects renewed market confidence and strength, as DOT gains momentum and challenges previous resistance levels that once halted its progress. Related Reading: Polkadot Isn’t Done Yet—Breakout Point To Bigger Gains Ahead In addition, the market structure is steadily shifting in favor of the bulls, highlighted by a series of higher lows and solid daily candle formations. These technical signals suggest that buying pressure is steadily building, laying the groundwork for sustained upside movement if key levels are breached. As the new week unfolds, Polkadot is set to retest critical zones that could serve as launch points for continued bullish action. A successful hold or break above these areas may confirm the strength of the current trend and pave the way for higher targets in the near term. CryptonautX also noted that the rejection zones that previously capped DOT’s price are now being tested again, and this time with increased volume and greater conviction from buyers. This shift in sentiment and market activity indicates that bulls are gaining control, and DOT may be preparing for a strong continuation rally. DOT On Watch: Will Momentum Drive The Next Big Move? Furthermore, CryptonautX has declared that, if the current momentum holds, Polkadot could enter a fresh phase of accumulation followed by a strong expansion. The recent price action suggests that DOT is building the foundation for a more sustained rally, provided buyers maintain control in the coming sessions. Related Reading: Polkadot (DOT) Prints Classic Bullish Falling Wedge – Big Breakout Imminent Adding to this bullish outlook is the continued strength of Polkadot’s ecosystem. CryptonautX highlighted that growing developer activity and fundamental progress within the network are reinforcing the technical setup, offering solid backing for a potential upward move. With both technical and fundamental factors aligning, the analyst urged traders to keep a close eye on DOT this week. A sharp and unexpected move to the upside could be on the horizon, potentially catching the market off guard. At the time of writing, DOT is trading at $3.62, with a market capitalization exceeding $5.8 billion and a 24-hour trading volume of over $185.4 million. DOT’s price has increased by 1.82% within the same time frame. Featured image from Unsplash, chart from Tradingview.com