met substantial volatility during the last twenty-four hour period, the cryptocurrency withdrew 4%, according to the Technical Analysis model of Coindesk Research.
The model has shown that the most remarkable movement was materialized when Dot fell to its lowest junction of $ 4.07 over a high volume of 3.16 million, considerably above the average of twenty-four hours of 2.31 million, establishing a robust volume support at this level.
Following this capitulation event, Dot demonstrated resilience by recovering from the range of $ 4.15 to $ 4.18, suggesting that the institutional purchase interests emerged at lower levels and potential stabilization around current support areas, according to the model.
In terms of news, Polkadot consolidates its basic system services in Asset Hub on November 4, transforming it into a previous article on X.
In recent trading, the dowry was less than 4.2%, or about $ 4.13.
The wider market of cryptography has also decreased, with the large market market, Coindesk 20, down 3.2%.
Technical analysis:
- The volume analysis revealed that 3.16 million units negotiated during the session of 3: 00 to 4: 00 on October 8, considerably above the average of twenty-four hours of 2.31 million, indicating solid institutional interest.
- Price action has established a formidable support at $ 4.07 at the level of the capitulation event
- Recovery model from $ 4.14 to $ 4.16 during the sixty minutes of resilience demonstrated the resilience of the support area from $ 4.14 to $ 4.15.
- High volume activity at 12:21 p.m. and 12:33 pm The recovery candles suggested institutional accumulation at depressed levels.
- The consolidation of about $ 4.15 to $ 4.16 to 12:15 indicated potential stabilization around current support areas.
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