“Polkadot Rallied on Triple the Normal Volume As Institutional Buyers Drove Momentum.”, – WRITE: www.coindesk.com
The model shows the breakout Accelerated Between 10: 00-11: 00 GMT as Price Rose from $ 3.68 to $ 3.79.
Volume Spiked to 5.29 Million Units, Nearly 3x The Daily Average of 1.83 Million, Confirming Strong Accompumulation at $ 3.68 Support, Accounting To The Model.
Resistance Caps Gains at $ 3.80 As Profit-Taking Emerges on Elegated Volume.
The stake Rate on Polkadot Has slipped to 49.17% over the Last Week.
The Rally in Polkadot Came As the Wider Crypto Market Also Rose, With The Broader Market Gauge, The Coindesk 20, Recently Up 3.7%.
In recent trading, dot was 3% Higher over 24 hours, Trading AROUND $ 3.76.
Technical Indicators Analysis
- Institutional Distribution at Higher Levels Confirms Breakdown of Previous Bullish Structure from 24-Hour Surge.
- Strong High-Volume Support Establized at $ 3.68 Level with Exceptional Volume Confirmation.
- Key Resistance Emerges at $ 3.80 WHERE PRICE REVERSES ON ELEVATED VOLUME.
- Sustaned Upward Momentum with Consistently Higher Lows Signals Continued Bullish Sentiment.
Disclaimer: Parts of this Article Were Generated with the Assistance from Ai Tools and Review by Our Editorial Team to Enseure Accucy and Adherence to Our Standards. For more information, See Coindesk’s Full Ai Policy.
All Content Produced by Coindesk Analytics is Undergoes Human Editing by Coindesk’s Editorial Team Before Publication. The Tool Synthesizes Market Data and Information from Coindesk Data and Other Sources to Create Timely Market Reports, with All External Sources Clearly Attributed Within Each.
Coindesk Analytics Operates Under Coindesk’s AI Content Guidelines, WHICH PRIORITIZE Accuracy, Transparency, and Editorial Oversight. Learn more about Coindesk’s Approach to Ai-Generated Content In Our Ai Policy.
X Icon
The recent price raly is Likely Tied to a Broader Market Trend, with Growing Expectations of a Federal Reserve Interest Rate Cut in September.
- PEPE HAS RISEN OVER 5% IN THE LAST 24 HOURS, DRIVEN by a High-Volume Breakout That Helped the Token Surge Above A Recent Resistance Level.
- Despite A 73% Drop in Trading Volume Across Pepe Derivatives Contracts Since Mid-July, The 100 Largest Ether Etrereum Addresses have increasd their Holdings by 2.36
- The recent price raly is Likely Tied to a Broader Market Trend, with Growing Expectations of a Federal Reserve Interest Rate Cut in September.
Read Full Story