BTC
$105,009.69
+
0.63%
ETH
$2,518.59
+
0.66%
USDT
$1.0005
+
0.04%
XRP
$2.1570
–
1.25%
BNB
$642.46
–
0.65%
SOL
$145.87
–
1.33%
USDC
$1.0002
+
0.03%
TRX
$0.2708
–
1.61%
DOGE
$0.1687
+
0.25%
ADA
$0.5982
–
2.46%
HYPE
$39.34
–
1.12%
WBT
$48.94
+
1.82%
SUI
$2.7950
–
2.56%
BCH
$465.92
+
0.36%
LINK
$12.95
–
0.93%
LEO
$9.1471
–
0.88%
XLM
$0.2502
–
1.91%
AVAX
$18.47
–
1.19%
TON
$2.9021
–
2.37%
SHIB
$0.0₄1165
+
0.73%
By CD Analytics, Will Canny|Edited by Sheldon Reback
Jun 18, 2025, 3:21 p.m.
- DOT fell as much as 5% before rebounding to trade 1.9% lower.
- The token may have more upside as a potential double bottom pattern has formed with improving momentum.
Polkadot
encountered substantial selling pressure, dropping as much as 5% before rebounding and potentially forming a double bottom pattern that points to continued upward movement, according to CoinDesk Research’s technical analysis model.
After initially attempting to establish an uptrend with a peak at $3.787, DOT encountered strong resistance and formed a bearish reversal pattern, according to the model.
STORY CONTINUES BELOW
In recent trading, DOT was 2.6% lower over 24 hours, trading around $3.63 having found support at $3.59. The broader market gauge, the CoinDesk 20, was down 0.5% at publication time.
The price action shows a potential double bottom pattern forming with improving momentum, suggesting further upside if it maintains support above the $3.62 price level, the model showed.
Technical Analysis:
- DOT experienced a volatile 24-hour period with a substantial range of 0.193 (5.1%), initially attempting to establish an uptrend with a peak at $3.787 before encountering strong resistance.
- The price action formed a bearish reversal pattern as DOT failed to hold above the $3.75 level, followed by accelerated selling on high volume during the 10:00 and 13:00 hours when volume spiked to nearly 4 million units — well above the 24-hour average.
- Support emerged at $3.594, though the current price structure suggests further downside risk as DOT closed near session lows with weakening momentum indicators.
- In the last hour, DOT experienced significant volatility with a sharp decline from $3.643 to a low of $3.594, followed by a recovery attempt.
- The price found strong support at the $3.594 level, triggering a V-shaped recovery that pushed DOT up by 1.3% to $3.642.
- The recent price action forms a potential double bottom pattern with improving momentum, suggesting the possibility of continued upward movement if DOT can maintain support above the $3.62 level.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
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 article.
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.
Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He’s now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.
