DOT $2.56 Cracks Under Intense Selling Pressure
Polkadot’s native token, DOT, experienced a sharp decline on Monday, dropping 12% to $2.56 as institutional-sized orders broke critical support levels, according to CoinDesk Research’s technical analysis model.
The model highlighted extreme volatility throughout the session, with prices swinging from a high of $2.99 down to session lows of $2.56. Bears dominated price action early in the morning, as massive volume spikes overwhelmed technical defenses.
A defining moment occurred at 03:00 UTC when exceptional selling pressure reached 5.49 million tokens—more than double the 24-hour moving average. This institutional-sized distribution event coincided with a decisive break below the $2.87 support zone.
Technical Analysis Overview:
– Primary support at $2.76 was broken following the institutional selling cascade.
– The critical resistance zone between $2.80 and $2.82 now represents the next upside target.
– Major resistance at the $2.87 breakdown level remains a key threshold for any recovery.
– The session high of $2.99 serves as the ultimate resistance level for bullish continuation.
– Exceptional selling pressure of 5.49 million tokens registered a 106% increase above average volume.
Investors should watch these key levels closely as DOT attempts to stabilize after this significant sell-off.
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