The crypto market experienced a fresh wave of bullish momentum on July 10, with Polkadot’s native token, DOT, posting a strong 5% intraday gain, riding the tide as Bitcoin edged closer to its all-time high of $112,000.
This breakout for DOT is part of a broader crypto rally, with major altcoins and benchmark indices gaining traction as investor sentiment continues to recover.
DOT Climbs to $3.70 on Surge in Volume
DOT’s price surged from $3.52 to a session high of $3.70, marking its largest single-day gain in weeks. The key breakout occurred around 19:00 UTC on July 9, backed by trading volumes exceeding 4.21 million, confirming strong buyer interest and breakout momentum.
DOT was last seen trading at $3.67, up approximately 3.5% over 24 hours, suggesting continued buying interest and upward pressure on the price.
The CoinDesk 20 Index, which tracks a basket of major cryptocurrencies, also rose by 3.5%, reinforcing the trend of broad-based market recovery.
Technical Analysis: Key Levels and Momentum Insights
The technical chart for DOT highlights several important price zones and momentum indicators:
- Volume-based support has been established around $3.54, a level that absorbed significant buy-side interest during the main rally window.
- Immediate resistance was observed at $3.69 to $3.70, with dual rejections at that range indicating a possible short-term ceiling.
- Conventional support sits lower at $3.49, a price level that acted as a cushion during the midday dip.
- A short-term bearish pressure phase briefly dragged DOT to $3.68, a level now seen as a pivot for bulls looking to establish a base.
Momentum indicators on the hourly chart suggest overbought conditions, pointing to a possible cool-down or consolidation phase before the next directional move.
Bitcoin Rally Fuels Altcoin Momentum
Bitcoin’s ongoing rally, fueled by strong institutional interest, ETF inflows, and macroeconomic tailwinds, has had a spillover effect across the altcoin market. The leading cryptocurrency is now trading near $112,000, just shy of its all-time high, providing a strong bullish backdrop for assets like DOT.
Polkadot often benefits from broader market strength, and its recent move reinforces the narrative of altcoin resurgence when BTC leads.
What’s Next for DOT?
Polkadot’s strong technical setup, coupled with increasing interest in Web3 infrastructure and parachain development, could keep upward momentum intact. However, short-term resistance near $3.70 must be broken convincingly for a continuation toward the $3.85–$3.90 region.
With robust trading activity and market-wide optimism, DOT may remain on traders’ radars in the days ahead.
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Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.