Polkadot’s DOT slipped 4.5% to $1.75 over the last 24 hours, underperforming wider crypto markets. Trading volumes fell about 9% below the 30-day average, signaling weak conviction among traders. The broader market gauge CoinDesk 20 index was down 2.5% at publication time, underscoring a broad pullback across digital assets. The decline occurred on notably thin volume, with capital rotating toward higher-momentum assets, according to CoinDesk Research’s technical analysis model.
The model showed DOT exhibited relative weakness against the broader crypto complex, as capital rotated toward higher-momentum assets. The divergence reflects waning investor appetite for the token despite recent ecosystem developments, with market participants demanding clearer catalysts before re-engaging with size, according to the model. With fundamental drivers absent, price action has been dominated by technical levels, as DOT tests key support around current levels. Technical Analysis indicates a primary support zone reinforced at $1.76, and the market appears range-bound as it awaits a directional catalyst.
Institutional flows remain notably absent from recent trading sessions, and the token shows a sideways consolidation pattern within established boundaries. Downside risk is limited by modest price action and support, while upside potential remains constrained by volume concerns and overall weakness.
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