Share this article
Polkadot's DOT Slips 4% From Highs, Now Testing Support at $3.32 Level
The Polkadot ecosystem saw a steep fall in transaction volume in the first half of the year.
Jul 1, 2025, 6:27 p.m.
Make us preferred on Google
What to know:
- Polkadot dropped 4% from its 24 hour high.
- Support has now formed at the $3.32 level, with resistance at $3.46.
Polkadot's DOT showed a clear trading range of 4.4%, with price action characterized by a sharp rally to $3.46 followed by a substantial correction, according to CoinDesk Research's technical analysis model.
The model showed that support has now formed at the $3.32 level, which is currently being tested.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The Polkadot ecosystem suffered 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 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 attempt during the 14:00 hour.
- 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.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
As bitcoin miners cut unprofitable production, Hash Ribbon metric points to BTC price rebound
The hashrate shock from extreme weather in the U.S. revives a historically bullish onchain indicator.
What to know:
- A 20% drop in Bitcoin hashrate has pushed the Hash Ribbon deeper into capitulation.
- In the past, including the FTX collapse and mid-2024 yen carry trade unwind, that's signaled a strong price recovery once the hashrate reverts.
Top Stories
