Polkadot (DOT) Price Slips as Heavy Volume Signals Strong Support Near $1.76

Polkadot (DOT) experienced a modest pullback over the past 24 hours, slipping around 2% to trade near $1.77 after briefly touching $1.7583. Despite the decline, trading activity surged significantly, pointing to heightened market interest and strong defensive buying at key price levels. According to CoinDesk Research’s technical analysis model, DOT’s trading volume jumped 35% above its 30-day average, highlighting increased participation during the session.

The most notable price movement occurred during a sharp intraday sell-off that tested critical support. DOT fell quickly from around $1.85 to a low of $1.76, with exceptional trading volume reaching approximately 8.81 million tokens. This figure represented roughly 236% above the 24-hour simple moving average, signaling unusually strong institutional and large-scale activity during the decline. Rather than triggering a prolonged breakdown, the sell-off was rapidly absorbed by buyers.

Following the dip, DOT staged a swift V-shaped recovery, rebounding back toward the $1.80 level. This rebound reinforced the importance of $1.76 as a psychological and technical support zone, suggesting that market participants are willing to accumulate DOT at these prices. The quick recovery also indicates that selling pressure was effectively absorbed, a sign often associated with stabilization or consolidation rather than continued weakness.

While Polkadot showed resilience at support, it underperformed the broader crypto market. At the time of writing, the CoinDesk 20 index was down just 0.2%, reflecting relatively mild weakness across major digital assets compared with DOT’s sharper intraday moves.

From a technical perspective, resistance remains near $1.805. A decisive move above this level would likely require fresh buying interest and sustained volume confirmation. If such momentum emerges, an upside target around $1.82 comes into view. On the downside, risk appears limited as long as DOT holds above the $1.76 support area, where strong demand has already been demonstrated.

Overall, Polkadot’s recent price action suggests a market in consolidation, with heightened volume underscoring active participation and a clear battle between buyers and sellers near the $1.80 zone.