Polkadot Plunges 11% to $2.02 on Strong Selling Pressure
Polkadot (DOT) collapsed to $2.02 on Monday, dropping sharply from $2.27 as heavy selling pushed the token below key technical levels and toward the psychological $2.00 mark. According to CoinDesk Research’s technical analysis model, the 11.4% decline ranks among DOT’s largest single-session losses this year.
Trading volume surged to 14.6 million tokens, roughly 280% above the 24-hour average, reflecting intense selling activity. The token’s breakdown accelerated overnight, slipping past critical support at $2.05 around midnight UTC.
Recovery attempts were unsuccessful, with buyers unable to reclaim levels near $2.09 and $2.06, confirming sustained bearish momentum. Analysts note that $2.00 now stands as a key psychological support level and the next potential downside target.
The broader cryptocurrency market also retreated, with the CoinDesk 20 Index falling 7.5% amid widespread market weakness.
