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Polkadot's DOT Suffers 5% Decline as Intensified Selling Pressure Overwhelms Market

2025-08-01 17:06:59

Main Idea

Polkadot's DOT token experienced a 5% decline due to intensified selling pressure, with support established at $3.55-$3.58 and resistance at $3.68.

Key Points

1. DOT fell over 5% amidst a broad selloff in crypto markets, dropping from $3.76 to $3.56.

2. The token initially showed resilience, reaching an intraday high of $3.87 on July 31 before facing selling pressure on August 1.

3. Support levels are now at $3.55-$3.58, with resistance confirmed at $3.68.

4. Volume spikes exceeded 200,000 units during key breakdown periods, surpassing the 24-hour average of 3 million.

5. A critical support breach occurred at $3.60 during the final hour of decline.

Description

Polkadot's DOT encountered substantial bearish momentum over the last 24 hours, retreating from $3.76 to $3.56, or more than 5%, according to CoinDesk Research's technical analysis model. The model showed that DOT initially demonstrated resilience, achieving an intraday high of $3.87 on July 31, yet subsequently confronted relentless selling pressure accompanied by pronounced volume surges during pivotal breakdown junctures on August 1. The token now has support in the $3.55-$3.58 range, with re...

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$DOT
$3.537
-2.18%

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