{"id":32508,"date":"2025-06-18T16:17:04","date_gmt":"2025-06-18T16:17:04","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=32508"},"modified":"2025-06-18T16:17:04","modified_gmt":"2025-06-18T16:17:04","slug":"polkadots-dot-drops-as-much-as-5-after-failed-breakout-triggers-selling-wave","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=32508","title":{"rendered":"Polkadot&#8217;s DOT Drops as Much as 5% After Failed Breakout Triggers Selling Wave"},"content":{"rendered":"<div>\n<p>Polkadot DOT encountered substantial selling pressure, dropping as much as 5% before rebounding and potentially forming a double bottom pattern that points to continued upward movement, according to CoinDesk Research&#8217;s technical analysis model.<\/p>\n<p>After initially attempting to establish an uptrend with a peak at $3.787, DOT encountered strong resistance and formed a bearish reversal pattern, according to the model.<\/p>\n<p>In recent trading, DOT was 2.6% lower over 24 hours, trading around $3.63 having found support at $3.59. The broader market gauge, the CoinDesk 20, was down 0.5% at publication time.<\/p>\n<p>The price action shows a potential double bottom pattern forming with improving momentum, suggesting further upside if it maintains support above the $3.62 price level, the model showed.<\/p>\n<p><strong>Technical Analysis:<\/strong><\/p>\n<ul>\n<li>DOT experienced a volatile 24-hour period with a substantial range of 0.193 (5.1%), initially attempting to establish an uptrend with a peak at $3.787 before encountering strong resistance.<\/li>\n<li>The price action formed a bearish reversal pattern as DOT failed to hold above the $3.75 level, followed by accelerated selling on high volume during the 10:00 and 13:00 hours when volume spiked to nearly 4 million units \u2014 well above the 24-hour average. <\/li>\n<li>Support emerged at $3.594, though the current price structure suggests further downside risk as DOT closed near session lows with weakening momentum indicators. <\/li>\n<li>In the last hour, DOT experienced significant volatility with a sharp decline from $3.643 to a low of $3.594, followed by a recovery attempt.<\/li>\n<li>The price found strong support at the $3.594 level, triggering a V-shaped recovery that pushed DOT up by 1.3% to $3.642.<\/li>\n<li>The recent price action forms a potential double bottom pattern with improving momentum, suggesting the possibility of continued upward movement if DOT can maintain support above the $3.62 level.<\/li>\n<\/ul>\n<p><strong><em>Disclaimer:<\/em><\/strong>\u00a0<em>Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to<\/em>\u00a0<em><a href=\"https:\/\/www.coindesk.com\/ethics\">our standards<\/a>. For more information, see<\/em>\u00a0<em><a href=\"https:\/\/www.coindesk.com\/coindesk-news\/2023\/04\/14\/how-coindesk-will-use-generative-ai-tools\">CoinDesk&#8217;s full AI Policy<\/a>.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Polkadot DOT encountered substantial selling pressure, dropping as much as 5% before rebounding and potentially forming a double bottom pattern that points to continued upward movement, according to CoinDesk Research&#8217;s technical analysis model. After initially attempting to establish an uptrend with a peak at $3.787, DOT encountered strong resistance and formed a bearish reversal pattern, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-32508","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/32508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32508"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/32508\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}