Polkadot’s Dot Token, an important actor in the crypto currency market, has followed a wavy course in the last 24 hours. According to the technical analysis model prepared by Coindesk Research, DOT was traded on a band changing between $ 3.87 and $ 4,11. During this time, it was observed that the pressure on the asset continued. The price of the price in this December, despite DOT’s efforts to recover, has shown that it did not completely decompose from the decline tendency throughout the market.
Support and resistance points
According to the analysis model, the decisive support level for DOT was between $ 3,87-3.93. Likewise, the price encountered strong resistance around $ 4.11. Voluble transactions at these levels showed that buyers and sellers are concentrated at the decision points. According to the technical analysis, significant sales pressure was observed at $ 4,11 and this point served as a ceiling for the price.
During a 24 -hour time period, the DOT price has shown a 6 percent fluctuation with a change of $ 0.24. The transaction volume was above the average at critical hours. Especially in 03:00 and 14:00, significant purchase transactions were recorded in the market. However, DOT’s price tested $ 3.94 in these periods, and in this case, short -term recovery signs appeared. Crypto investors’ application – the reason will surprise you!
Developments throughout the market
During the period of depreciation of DOT, a decrease in the crypto currency market also dominated. Coindesk 20 index following the market decreased by 3 percent. DOT lost 1.9 percent in this environment and traded at $ 3.94. This overall tendency in the crypto market increased the downward pressure in assets such as DOT. Analysts point out that the stagnation in the market can continue in the short term.
A “V” formation similar to the Formation of the DOT was observed at the last trading hours. The price, which decreased to the level of $ 3.92, gave rise signals with the introduction of buyers. However, the fact that the price tested above $ 3.94, pointed out a positive change in the short -term view. However, it has not yet become clear whether this rise would be permanent.
Trading Trends and Volume Analysis
The intensive purchase demand has concentrated especially in the support zone. It is stated that corporate investors increase the volume of transaction in this region. The fact that voluminous transactions see the above 24 -hour average pointed out that the market is at these levels. The sellers increased the pressure as prices approached the resistance level and an obstacle in front of price rise in the short term.
According to technical analysis techniques, it is foreseen that a short -term direction change may begin in instant price movements. Investors shaping the purchase and sale decisions especially by following the points of support and resistance. However, the negative air and sales tendency throughout the market increases risk factors on DOT.
Coindesk Research says that it may take time to set a new direction in the DOT price if the current market conditions continue. Experts emphasize that investors should be careful about short -term fluctuations because the price level is technically critical.
Coindesk Research: “Intensive purchases were observed in the $ 3.87-3,93 band, and the resistance was formed at $ 4,11.”
The existing data show that DOT has difficulty in separation from the market and a cautious approach in the short term stands out. In the process between the support and resistance levels of the price, investors are advised to closely follow the technical indicators. According to technical data, the significant increase in volume and the approach of the price to resistance may trigger short -term trend changes. Closely monitoring market conditions is important in terms of management of risks.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
