The DOT token registered a notable rise this Tuesday driven by the recent USDC integration on Polkadot facilitated by the Coinbase exchange. According to data revealed by CD Analytics, the digital asset outperformed the general market index showing methodical and constant accumulation during the day. This positive movement occurs just one day after the official support for withdrawals was announced.
Technical analysis models reveal that Polkadot advanced 1.9% to reach $1.91 within 24 hours. This bullish movement was sustained by a trading volume that exceeded by 17% the monthly averages recorded in the last thirty days of activity. Likewise, the rally allowed the asset to outperform the CoinDesk 20 index, which only obtained a marginal gain of 0.6% in the same period.
On the other hand, institutional flows accelerated significantly aligning with the technical momentum of the current market. The resistance breakout coincided with a massive institutional volume of 229,817 tokens, representing triple the usual averages per trading session. Furthermore, the total 24-hour volume reached a peak of 4.53 million tokens, sitting 87% above the established norm.
Technical consolidation following the stablecoin alliance
It is important to highlight that the price structure showed considerable solidity against early market volatility. Key support crystallized firmly in the $1.87 and $1.88 zone, a level that was validated through multiple successful tests during the session. Thus, the price action pointed more to an organized accumulation strategy than to disorderly speculative buying by investors.
The announcement regarding the capability for direct withdrawals and stablecoin support acted as a fundamental catalyst. This news fostered an ideal scenario for a technical breakout momentum that allowed building successive higher lows on the price chart. Therefore, investors have maintained sustained buying interest that managed to keep prices near the operational session highs.
Can Polkadot maintain this growth pace?
Interoperability and ease of value transfer are vital for any modern and competitive blockchain ecosystem. Direct connection with one of the most liquid stablecoins in the market substantially improves the network’s utility for retail and institutional users. However, the market reacted with prudence, validating the breakout sequence only when volume exceeded the technical threshold of 3.59 million.
The session peak at $1.94 marks the immediate upside objective for short-term traders. Higher targets now extend toward the psychological zone of $1.92 and $1.93, areas where some selling resistance due to profit-taking might be found. Also, the rising trend structure has been confirmed, providing a solid technical foundation for possible additional advances in the asset’s price.
Finally, the combination of fundamental and technical factors suggests an optimistic outlook for the asset in the coming days. The volume-backed breakout provides a robust technical foundation for advance, provided that current support is maintained against volatility. It remains to be seen if institutional participation continues with the same intensity or if the market will enter a brief price consolidation phase.
