Polkadot Breaks Out of Long-Term Descending Channel on Strong Volume

Polkadot (DOT) broke out of a multi-month descending channel on strong volume and rallied for three straight sessions, drawing real participation rather than fading on thin liquidity.

The trading volume over the past day jumped to $256.41 million, up 84.69%, pushing the volume to market cap ratio to 16.18%.

According to Coinglass data, open interest sits at $178.63 million, holding near its highest levels of the past several weeks after climbing steadily through the breakout and the rally that followed it.

The 14-period RSI (Relative Strength Index) sits at 71.15, firm and bullish but not yet deep into overbought territory.