Polkadot (DOT) Gains 0.8% Amid Elevated Trading Volume but Underperforms Broader Crypto Market
Polkadot (DOT) experienced a modest gain of 0.8% to $2.12, underperforming the broader crypto market which saw a rise of 2.8% on the CoinDesk 20 index at publication time.
During the session, DOT's price moved from $2.09 to $2.14, briefly breaking resistance at $2.12 and reaching highs near $2.16. The most significant volume event recorded was 5.75 million DOT traded, which is 134% above the 24-hour average, helping push the price through resistance to session highs around $2.16.
Trading volume was 26% above its seven-day average, indicating heightened institutional activity. The session exhibited a trading range of $0.13, translating to about 6.1% volatility. An ascending trend was observed with higher lows progressing from $2.05 to $2.09 during the session.
Key technical levels include strong support at $2.05 and resistance near $2.16, while immediate support at $2.14 is critical to maintaining the bullish structure. CoinDesk Research's technical analysis model suggests there is some investor sentiment hesitation toward Polkadot, with the price advance driven more by elevated volume, signaling deliberate positioning rather than a low-conviction drift.
