Polkadot (DOT) rose to $2.14, advancing 2.2% over the past 24 hours, but remains lagging behind the broader crypto market. The recovery occurs on elevated volume, 47% above the seven-day average, indicating active institutional participation, although profit-taking still predominates.
Polkadot’s price remains within an ascending range between $2.05 and $2.14, with strong support at $2.05 and resistance near $2.16. Immediate support at $2.14 is critical to maintain the bullish structure, while a drop below $2.05 could open the door to further losses.
Recent volume spikes show that 5.75 million tokens were traded, 134% above the 24-hour average, pushing the price toward the session highs. The combination of selling pressure and institutional accumulation keeps the market in a delicate balance, with descending channels on shorter timeframes creating a technical conflict.
Polkadot’s performance reflects investor caution: while higher lows support the overall uptrend, the lack of momentum suggests profit-taking outweighs new accumulation. Holding above $2.14 will be key to reaching the $2.16 resistance and consolidating a sustainable rally.
Source: https://coinmarketcap.com/currencies/polkadot-new/
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