Polkadot’s DOT Rises 5% Amid Broad Crypto Market Strength as Bitcoin Nears Record Highs
Polkadot’s native token, DOT, surged as much as 5% over the past 24 hours, climbing from $3.52 to $3.70 on strong trading volume, according to technical analysis from CoinDesk Research.
The rally intensified around 7 PM UTC on July 9, with volumes reaching 4.21 million tokens, signaling robust investor demand.
This move coincided with gains across the crypto market, as the CoinDesk 20 index rose 3.5%, and Bitcoin (BTC) edged closer to its all-time highs near $112,000.
As of the latest trading session, DOT was trading near $3.67, up about 3.5% on the day.
Technical Highlights
- Support formed near $3.54 during the main rally period on July 9.
- Resistance was observed between $3.69 and $3.70, where price faced repeated rejections.
- Earlier support at $3.49 held firm after a midday pullback.
- Momentum indicators suggest short-term consolidation following the recent surge.
- Trading volume surged past 4.2 million tokens, indicating strong market activity.
