Polkadot (DOT) rose 4% to $2.21 over the past 24 hours, following a sharp volume surge that lifted the token from $2.12 to session highs of $2.39, according to CoinDesk Research.
Trading volumes during the breakout spiked 284% above the moving average before easing as prices stabilized near $2.20. The model noted measured institutional participation rather than aggressive accumulation, with total 24-hour volume 31% below the weekly average, signaling selective buying rather than broad-based demand.
DOT’s movement largely tracked broader crypto market trends, with the CoinDesk 20 index up 2.4% at publication.
Technical Snapshot:
- Support confirmed at $2.19, backed by institutional buying on dips.
- Resistance at $2.39 near session highs.
- $0.20 trading range reflects an 8.9% bandwidth and elevated volatility.
- Volume peaked at 15.89 million tokens during breakout versus 2.81 million average.
- V-shaped recovery confirms buyer presence at support.
- Range compression near $2.19–$2.20 indicates short-term consolidation.
- Higher lows support a constructive technical bias.
- Downside risk limited near $2.19.
- Upside targets $2.39 resistance, pending volume confirmation.
Polkadot remains in a phase of measured consolidation, with institutional support at key levels and potential upside contingent on a confirmed breakout above $2.39.
