Polkadot (DOT) Stabilizes After 4% Pullback Amid Market Volatility
Polkadot’s native token DOT dropped 4% over the last 24 hours as broader crypto markets faced downward pressure. CoinDesk Research’s technical analysis shows DOT fell to a low of $4.07 on heavy volume of 3.16 million, well above the daily average of 2.31 million, establishing a strong support level.
Following the dip, DOT rebounded to trade between $4.15 and $4.18, signaling potential stabilization as institutional buyers stepped in at lower levels. At the time of writing, DOT was down 4.2%, around $4.13, while the CoinDesk 20 Index fell 3.2%.
Key Technical Takeaways:
- Strong support confirmed at $4.07 during the sell-off.
- Recovery to $4.15–$4.18 indicates potential consolidation.
- Elevated volume during rebound points to institutional accumulation.
- Current price range suggests short-term stability.
On the ecosystem side, Polkadot is preparing to consolidate its core services into Asset Hub on November 4, creating the central “superchain” of the Polkadot ecosystem, Polkadot Hub, according to recent announcements on X.
