Polkadot's DOT Advances Over 4% Amid Robust Recovery
Main Idea
Polkadot's DOT token rose over 4% after defending key support levels, with technical analysis suggesting potential further gains toward the $4.15-$4.20 range.
Key Points
1. DOT gained 4% to $4.12 after defending support levels around $3.84-$3.86.
2. Technical analysis indicates a potential upward move toward the $4.15-$4.20 Fibonacci extension target.
3. A volume surge exceeding 216,000 during a specific UTC window confirmed bullish momentum above $4.060.
4. Polkadot ranked 2nd in ecosystem development with 4,337 commits, trailing Ethereum.
5. The broader crypto market also rose, with the CoinDesk 20 index up 1%.
Description
DOT demonstrated resilience with a robust recovery rally, rising over 4% to $4.12 after defending pivotal support levels around $3.84-$3.86, according to CoinDesk Research's technical analysis model. The model showed that the cryptocurrency breached resistance at $3.92 with exceptional volume exceeding 7 million, suggesting institutional accumulation and continued upward momentum towards $4.15-$4.20 targets. Developer activity data reveals Polkadot positioned 8th in core development with 72 comm...
Latest News
- Asia Morning Briefing: Korea’s 'Onshore' Won Policy Could Hinder Its Stablecoin Ambition2025-08-14 01:44:59
- Bitcoin Tops $122K, Eyes Fresh Record, With Ether Just 3% From 2021 ATH2025-08-13 21:53:11
- Ethereum Wallet MetaMask Will Likely Unveil Its Own Stablecoin this Week2025-08-13 19:52:43
- Trump Removal of BLS Commissioner Prompts Questions About Accuracy of Economic Stats2025-08-13 19:37:36
- Crypto Platform Bullish Shares Debut Above $100, More Than Doubling IPO Price2025-08-13 19:08:25