Polkadot’s native cryptocurrency, DOT, has experienced a notable upward movement of nearly 4 percent over the past 24 hours, rising from $3.65 to $3.80. This surge is largely attributed to increased institutional buying activity. According to technical analysis conducted by CoinDesk Research, the price breakout occurred sharply between 10:00 and 11:00 GMT, when DOT advanced from $3.68 to $3.79. Trading volumes also saw a significant spike during this period, reaching 5.29 million units—almost three times the daily average of 1.83 million—thereby confirming strong buying support at the $3.68 level. However, the upward momentum encountered resistance near $3.80, where profit-taking capped further gains.

Meanwhile, the staking rate on Polkadot has declined to 49.17 percent over the past week. This development coincided with a broader positive trend in the crypto market, as reflected in the CoinDesk 20 Index, which posted an approximate 3.7 percent increase. In recent trading sessions, DOT’s price has settled around $3.76, marking a 3 percent gain within 24 hours.

Technical indicators suggest that institutional selling pressure has interrupted the recent bullish trend at elevated price levels. Nonetheless, a robust support zone has been established at $3.68, backed by high trading volumes, while the $3.80 level remains a key resistance point where prices have retraced despite increased volume. The continuation of higher lows points to a steady uptrend, reflecting growing bullish sentiment among investors.

This analysis was partially generated using artificial intelligence and has been reviewed by our editorial team to ensure accuracy and quality.

Source: coindesk
$DOT