“DOT collapsed to $2.02 as technical breakdown accelerated on massive volume, exposing the psychological $2.00 level.”, — write: www.coindesk.com
The 11.4% decline ranks among the worst single-session losses for the ecosystem token this year, the model said. The volume surged to 14.6 million tokens, 280% above the 24-hour average, as sellers overwhelmed buyers.
The model showed that the breakdown gained momentum during overnight trading, as DOT fell through the $2.05 support level at midnight.
Recovery attempts failed repeatedly, and buyers could not reclaim even modest levels around $2.09 and $2.06, confirming the shift to bearish momentum through relentless selling pressure, according to the model.
The selloff exposes the critical $2.00 psychological level as the next major downside target.
Wider crypto markets also fell, with the CoinDesk 20 index, lower by 7.5%.
Technical Analysis:
- Primary resistance now sits at $2.27
- Secondary resistance caps recovery at $2.09-$2.06 range
- Critical support target at $2.00 psychological level
- Exceptional volume surge to 14.56 million during midnight breakdown (280% above average)
- Sustained elevated volume throughout the decline validates bearish momentum
- Decisive breakdown from consolidation range with gap creation
- Failed recovery attempts creating lower highs at $2.09, $2.06
- A momentum cascade pattern emerges in the final trading hour
- Technical structure turns bearish with resistance capping upside
- Immediate downside target: $2.00 psychological support level
- Recovery resistance: $2.09 must be reclaimed for short-term stabilization
- Current risk/reward favors continued downside until volume stabilizes
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Led by Executive Chairman Michael Saylor, the company also added to its bitcoin holdings last week, bringing its total stack to 650,000 BTC.
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