Polkadot Struggles Below $3.80 While Sellers Maintain Pressure
Polkadot (DOT) slipped nearly 4% in the past 24 hours, trading around $3.75 as bearish momentum weighs on the asset. The latest move puts DOT closer to its key support zone, raising concerns of further losses if buyers fail to step in.
On the 4-hour chart, DOT continues to trade within a sideways channel after failing to sustain above the $4.20–$4.40 resistance range. This supply zone, highlighted in red, has repeatedly rejected attempts at recovery, leaving the token vulnerable to renewed selling pressure.
The current price action shows DOT hovering near the $3.70–$3.60 support band, marked in orange. Analysts caution that a breakdown below this region could open the way toward $3.40 or even $3.20, levels last seen during late June’s decline.
Trading volumes remain muted, further emphasizing weak demand in the current environment.
According to BITX Market strategist, “Polkadot is at a critical juncture. The $3.70 area has provided support multiple times, but without a surge in buying interest, the token risks slipping back toward June’s lows.”
The decline comes as risk sentiment across the crypto sector cools, with traders awaiting fresh macroeconomic data. Bitcoin’s sideways consolidation has also limited momentum for altcoins, while projects like DOT with slower ecosystem activity face sharper corrections.
If support at $3.70 holds, Polkadot could attempt a bounce back toward $4.20, but technicals currently suggest a bearish tilt. A decisive breakdown below the current zone would confirm further downside, aligning with the broader market’s cautious stance.
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.