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Yahoo
3 days ago
- Business
- Yahoo
Polkadot's DOT Drops as Much as 5% After Failed Breakout Triggers Selling Wave
Polkadot DOT 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. 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. 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
AVAX Stages Short-Term V-Shaped Recovery, Struggles to Maintain Momentum
Avalanche AVAX struggled to maintain short-term momentum, with trading patterns showing a descending channel formation despite attempts to stabilize around key support levels, according to CoinDesk Research technical analysis model. The token has fallen 1.4% in the last 24 hours to $18.43 while the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — lost only 0.5%. Recent high-volume selling pressure suggests continued bearish sentiment in the short term, though strong buying emerged during recent dips. Technical Analysis • AVAX experienced significant price volatility over the past 24 hours, establishing a range of 0.84 (4.5%) between the high of $18.93 and low of $18.09. • The asset found strong support at the $18.15-$18.25 zone, while facing resistance near $18.85-$18.90. • The price action formed a descending channel, with recent high-volume selling pressure suggesting continued bearish sentiment despite attempts to stabilize around the $18.40 level. • AVAX experienced a V-shaped recovery, slipping from $18.35 to a low of $18.09 with exceptionally high volume (52,056 units) before rebounding to $18.40. • The recovery gained significant momentum when the price broke through resistance at $18.27 on volume exceeding 67,000 units, establishing a new support zone around $18.33-$18.35. • The uptrend culminated in three consecutive zero-volume minutes suggesting potential consolidation before the next price movement. 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 in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
TON Drops 3.1% as Volatility Rocks Crypto Market
Toncoin TON is experiencing heightened volatility amid broader market turbulence, with significant selling pressure breaking through the $2.92 support level during peak trading hours, according to CoinDesk Research's technical analysis model. Despite the sharp decline, buyers have emerged near the $2.87 level, forming what appears to be a potential stabilization zone. The cryptocurrency's recent price action shows a clear resistance zone around $2.99, with multiple failed attempts to breach this threshold suggesting continued bearish momentum in the short term. The token has dropped 3.1% in the last 24 hours, while the CoinDesk 20 the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — lost only 1.7%. Technical Analysis • Most pronounced selling pressure occurred with high volume (7.07M) breaking through the $2.92 support level. • A notable resistance zone formed around $2.99, with multiple failed attempts to breach this threshold. • Current price action suggests potential stabilization forming near the $2.87 level with moderate buying interest emerging after the decline. • Overall price action indicates bearish momentum with increased volatility, suggesting traders should monitor the $2.85 support level closely. • Price formed a clear V-shaped reversal pattern with a significant bottom at $2.85. • The $2.880-$2.900 zone remains a critical resistance area to monitor for continuation of the uptrend. 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Filecoin Plunges 6% On Heavy Volume, Breaks Technical Support at $2.52 Level
Filecoin FIL underwent a notable 5.8% decline over the 24-hour period, dropping from a high of $2.569 to a low of $2.406, according to CoinDesk Research's technical analysis model. The token found support at the $2.41-$2.42 range, forming a potential consolidation zone after the sharp decline, the model showed. Filecoin is currently trading 4.9% lower, around $2.425. The broader market gauge, the CoinDesk 20 was 2% lower at publication time. Technical Analysis: FIL-USD underwent a notable 5.8% decline over the 24-hour period, dropping from a high of $2.569 to a low of $2.406. Heavy selling pressure occurred between 22:00-00:00 UTC when volume spiked to over 7 million units. The token found support at the $2.41-$2.42 range, forming a potential consolidation zone after the sharp decline. Technical analysis reveals a breakdown of the $2.52 support level that had previously held during the first half of the period. Resistance is now established at $2.56, where multiple rejection wicks formed before the downtrend accelerated. The high-volume selling suggests institutional distribution and potential further downside unless buyers can reclaim the $2.45 level. In the last hour, FIL-USD demonstrated notable volatility with a recovery attempt from the previous correction. Price action formed a V-shaped pattern, initially dropping to a low of $2.411 before staging a significant rally to reach $2.427 Volume peaked during the upward movement at over 55,000 units traded, suggesting strong buying interest at support levels. The asset has since consolidated between $2.415-$2.418, establishing a potential short-term horizontal support zone. Multiple rejection wicks formed at the $2.420 resistance level. This price action indicates potential stabilization following the earlier decline, though modest volume in the final minutes suggests caution before confirming a trend reversal. 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
TON Moves Past $3 Milestone on High Trading Volume
Toncoin TON established strong support at $2.94-$2.96 before making a decisive move upward, demonstrating resilience even after a sharp pullback, according to CoinDesk research's technical analysis model. The token is up 1.5% in the last 24 hours, underperforming the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — which has risen 3.6%. Technical Analysis • Price formed a solid support zone at $2.94-$2.96 early in the period, followed by a decisive breakout above $3.00. • Significant above-average volume (1.87M and 1.54M) supported the initial breakout. • Despite a sharp pullback to $2.98 with the highest volume spike (2.97M), buyers quickly returned. • A strong consolidation pattern formed, establishing support at $2.985. • High volume (272,668 units) triggered the final breakout above $3.00. • New support zone established at $3.00-$3.01, confirming strength of the uptrend. 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. Sign in to access your portfolio
