DOT drops 3% to $1.83 as crypto markets reverse lower
crashed through critical support Wednesday, tumbling 3% to $1.83 as technical selling overwhelmed bullish USDC integration news.
DOT broke decisively below the psychological $1.90 floor despite Coinbase (COIN) announcing direct Polkadot network support.
Heavy distribution emerged during the final two trading hours, according to CoinDesk Research’s technical analysis model, as the token collapsed from $1.93 to $1.82 and stop-losses cascaded through multiple support zones.
The model showed that volume spiked to 9.47 million tokens, or 340% above the 24-hour average.
This surge confirmed institutional distribution at the $1.95 level, the model said.
The breakdown established clear bearish momentum with lower highs from the $1.92…
