It rose 13% to $2.26 in the past 24 hours as trading volumes surged.
The coin opened at $1.99 and formed a steady upward trend throughout the 24 hours, establishing clear technical dominance over the broader cryptocurrency market, according to CoinDesk Research’s technical analysis model.
The model says the volume pattern confirms genuine institutional interest rather than retail speculation. DOT’s 24-hour trading activity exceeds the weekly average by 34%.
The broader CoinDesk 20 index rose 9% over the same period. DOT’s outperformance suggests asset-specific drivers dominate price action.
According to the model, recent price action shows continued bullish momentum. In the last hour, DOT extended gains from $2.141 to $2.245, up 4.9% from the initial breakout level.
The rally produced higher lows of $2.186 and $2.193 before accelerating above resistance at $2.220, with trading volume exceeding 200,000 shares in a concentrated three-minute window.
Technical analysis:
- The main support level is $2.05, and the former resistance level of $2.15 is currently a support level; the next target is the psychological price of $2.30
- Trading volume exceeded 6.43 million shares, exceeding 195% of the 24-hour moving average, confirming institutional support for the rise.
- Uptrend with higher highs and lows; successfully broke out of the $2.00-$2.15 consolidation range
- Near-term price target is $2.30; stop loss below support at $2.05, maintaining favorable 3:1 reward risk profile
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and reviewed by our editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
