“The Polkadot EcoSystem Saw A Steep Fall in Transaction Volume in the First Half of the Year.”, – WRITE: www.coindesk.com
Polkadot’s Dot Slips 4% from Highs, Now Testing Support at $ 3.32 Level.
- Polkadot Droped 4% from Its 24 Hour High.
- Support Has Now Formed at the $ 3.32 Level, with Resistance at $ 3.46.
The model showed that Support Has Now Forred at the $ 3.32 Level, WHICH is Currently Being TESTED.
The Polkadot EcoSystem Suffired A Notable Slowdown in Transaction Activity in the First Quarter of the Year, with A 36.9% Drop from the Previous Quarter to 137.1 Million Transactions.
In Recent Trading, Dot Was 2.4% Lower Over 24 Hours at AT AROUND $ 3.31. The Broader Market Gauge, The Coindesk 20, WAS 2.4% Lower AT PUBLICATION TIME.
Technical Analysis:
- The 19: 00-20: 00 Timeframe on June 30 Saw The Strongest Bullish Momentum with Above-Average Volume (1.81m), Establishing Resistance at $ 3.46.
- Support ForMed at $ 3.32 During the July 1 07:00 Hour with High Volume (1.34m).
- The Final Hours Showed Renewed Selling Pressure, with Dot Closing Near the Lower End of Its Range At $ 3.33, Suggesting Bearish Sentiment Despite A Brief Recovery attemph.
- The Period Was Marked by a Sharp Rally to $ 3.36 at 15:06, Establishing The Hour’s High, Followed by a Steep Sell-Off that Accelerated After 15:36.
- Notable Volume Spikes Occurred at 15: 31-15: 32 (267K Combined), Suggesting Institutional Selling Pressure.
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