Polkadot sinks below critical technical level amid elevated selling volume and reversing rally attempts.
What's Happening:
$DOT drops 1.94% to $2.02 after breaking key support at $2.09
Earlier rally attempts reversed sharply with elevated volume
Parachain ecosystem continues development despite price weakness
Cross-chain interoperability narrative taking backseat to macro
Why It Matters: Polkadot's break below $2.09 support is technically significant, signaling that sellers remain in control. The elevated volume during the reversal suggests institutional positioning rather than retail panic. DOT's interoperability thesis remains intact, but the market is currently focused elsewhere.
Technical View: DOT erased earlier gains falling from $2.09 high to $1.97 low. Current price action at $2.02 is precarious - a close below $2.00 would signal further downside to $1.90. Resistance has shifted to $2.10.
🎯 Key Levels:
Support: $1.95 | Resistance: $2.10
24h Range: $1.95 - $2.10
💡 Broken support becomes resistance - DOT needs to reclaim $2.10 to shift the narrative
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Polkadot #DOT #Layer0 #Interoperability #CryptoNews
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.
