Polkadot’s digital presence called DOT has experienced a significant decline in the last 24 hours. According to Coindesk Research’s technical analysis model, Token’s price fell from $ 3.76 to $ 3.56, and in this process, a loss of value of more than 5 percent was observed. In particular, DOT, which reached the highest level of $ 3.87 in the day on July 31, faced intense sales pressure after this point.
Market dynamics and sales pressure
According to the analysis model, DOT was resistant to the first stage, but a significant depreciation of the sales wave on August 1 was reported. During the increase in sales, it was observed that the transaction volume increased significantly and the volume, especially at critical levels, increased above a 24 -hour average. Similarly, the Coindesk 20 index decreased by 3.7 percent and stated that there was a downward movement in the general crypto currency market.
According to the analysis of experts, the new support level for DOT is $ 3.55-3,58, while the resistance point is defined as $ 3.68. In the last transactions, the price was traded around $ 3.64 with a loss of 5.3 percent.
Technical levels and volume movements
Technical data shows that the summit was seen with $ 3.87 in DOT, and then the transaction volume increased significantly when the sales pressure is effective. Volume increased over 200,000 units in some moments. The most important support point was determined in the layer of $ 3,55-3,58, while the price was closely watched in the market where it went down to this band.
An important resistance level is $ 3.68. With the breaking of support of $ 3.60, additional decreases in Coin’s value were recorded. Especially in the last hours of August 1, DOT’s hanging below the critical support levels was met with uncertainty by investors.
Market experts say that sudden increases in transaction volume increase sales pressure on DOT. In certain periods, especially in 13: 45-13: 46 UTC and 13:54 UTC time periods, the transaction volume was passed 200,000 units and sales were concentrated.
Investor reactions and market interpretation
This change, which is observed in DOT’s technical analysis in the long run, is progressing in parallel with the general trend in the crypto market. In the last three minutes, it is stated that the market has become stagnant and the volume of transaction has decreased significantly. This may indicate that market participants are cautious in the short term.
Coindesk experts made the following assessment on the subject:
“Dot faced a significant sales pressure in the last 24 hours and was drawn to price support levels. The increase in transaction volume indicates that sales are intensified.”
It is suggested that investors should closely follow up -to -date technical levels and market movements. The performance of the price at the critical support and resistance points of the price can determine the course of DOT in the coming period.
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.
