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Polkadot's DOT Slips 4% From Highs, Now Testing Support at $3.32 Level
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.
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:
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