Polkadot [DOT] gained more than 13% over the past 24 hours as the broader cryptocurrency market rallied, with short liquidations reaching approximately $272 million.
The price movement extends beyond market-wide momentum. Network activity has strengthened significantly, with monthly active addresses doubling in September to 80.3K from 40K in August. Monthly token trading volume jumped 116% to $4.70 billion, while daily transactions averaged 238K over the past 30 days.
Capital flows have turned positive across multiple channels. The 21Shares Polkadot ETF (TDOT) recorded net inflows of $663K after two months without inflows, signaling institutional interest. Treasury net flows surged to $2.04 million in the past 24 hours, reversing a five-day negative streak, though weekly treasury flows remain negative at approximately $1.59 million.
Technical Outlook
On the daily timeframe, DOT has bounced off a rising trendline support for the third time. The Bollinger Bands are expanding, indicating increasing volatility, while the Stochastic RSI reading of 30 suggests sellers may be exhausted after oversold conditions.
If the $1.30 to $1.44 zone becomes established support, the price could reach $1.70 and higher levels. A breakdown below the trendline and loss of the $0.945 support level would invalidate the current uptrend and shift the market structure bearish.
