DOT Falls 2% After Breaking Key Support Amid Heavy Volume
DOT fell 2% after breaking a key support level, sliding from $2.09 to $1.97 amid heavy trading volume. The price broke through an ascending trendline support near $2.05, with 10.3 million DOT traded during the breakdown. The volume surged 284% above the 24-hour average, highlighting strong selling pressure.
A technical setup showed an ascending channel ranging from $2.01 to $2.09, which ended with a violent rejection and a confirmed breakdown of the trendline. The primary support level now sits at $1.95, with immediate resistance around $1.985. A break below $1.95 could target levels near $1.90.
For a recovery to occur, DOT would need to reclaim $2.00 with volume confirmation to reassert bullish control. Peak hourly volume reached 995,000 DOT, approximately 400% above the session baseline, underscoring the significance of the move.
In the wider market, the CoinDesk 20 index fell about 0.6% at the time of publication.
