Polkadot’s DOT Drops Over 6% as Deterioration Accelerates

DOT fell more than 6% over 24 hours, retreating from $4.02 to $3.77 amid a wider sell-off in crypto markets that saw the broad market CoinDesk 20 index fall 2.5%.
The selling pressure in Polkadot intensified between 09:00 and 11:00 UTC when volumes topped the 24-hour average of 2.29 million, according to CoinDesk Research’s technical analysis model.
This period witnessed elevated volatility as prices breached multiple technical support levels, establishing a downward trajectory with resistance at $3.83 and support deteriorating towards $3.74, according to the model.
In recent trading, DOT was 6.2% lower over 24 hours, trading around $3.775.
Technical Analysis:

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