Polkadot's DOT Slips 3% as Failed Recovery Attempts Signal Weakness
Polkadot's DOT has experienced a 3% decline within the last 24 hours, dropping from $4.09 to $3.96. This setback likely relates to overall weakness in the cryptocurrency market, which saw broader declines. Notably, support for DOT has solidified in the $3.91-$3.93 range, with resistance identified between $4.03 and $4.07. Trading volumes showed significant spikes, particularly with a peak reaching 3.97 million, surpassing the average of 2.26 million. The decrease happened alongside a critical support break at the $4.02 level, indicating potential selling exhaustion as volumes decreased towards the close of the trading period. These market movements are being closely analyzed to ascertain future trends and recovery attempts for Polkadot's DOT amidst the general decline in the crypto landscape.
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