Steady price action and elevated volume point to base-building rather than renewed selling pressure.
Polkadot (DOT) traded largely unchanged over the past 24 hours, signaling a pause in volatility after an extended period of downside movement. While price action remained flat, underlying metrics suggest active positioning rather than market apathy. DOT continued to hold above an important support area, reinforcing the view that the token may be forming a short-term base.
DOT remained confined within a tight technical range between $1.72 and $1.86, reflecting consolidation rather than directional movement. This type of range-bound behavior often emerges after strong trends, as buyers and sellers reassess fair value. The market repeatedly tested the lower boundary of the range, but selling pressure failed to break support, indicating resilience at these levels.
The $1.72–$1.74 zone continues to act as a critical demand area.
Despite minimal price movement, trading volume stood approximately 55% above the monthly average. Elevated volume during consolidation phases typically points to accumulation or distribution activity, rather than simple inactivity. In DOT’s case, sustained volume alongside stable pricing suggests that market participants are actively building positions near support.
From a structural perspective, DOT’s price behavior indicates a solid base forming at lower levels. Repeated defenses of support, combined with narrowing price swings, imply that sellers are losing control. However, upside remains capped unless DOT can reclaim higher resistance levels within the broader range.
As long as DOT continues to hold above $1.72, the consolidation structure remains intact. A break above the upper boundary could signal a shift in momentum, while a failure of support would reopen downside risk.
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.