Polkadot's DOT has experienced a 4% decline from its 24-hour high, currently testing support around the $3.32 level. This decline follows a notable increase in transaction volume that highlighted a sharp rally to $3.46, which was then followed by a significant pullback. During the first quarter of the year, the Polkadot ecosystem faced a drastic 36.9% drop in transaction activity, resulting in only 137.1 million transactions. As of the latest data, DOT is trading at approximately $3.31, with the broader market gauge, CoinDesk 20, reflecting a similar decline. Technical analysis indicated strong resistance at $3.46 and support at $3.32. In the hours leading up to this decline, significant trading activity was noted, including a high volume of selling pressure from institutional traders. Market sentiment appears bearish after a series of price fluctuations.

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