Polkadot trades at $1.172 amid governance vote and technical support test
Polkadot (DOT)
Editor:
Eugene Serbin
tradersunion.com reports that Polkadot (DOT) is trading at $1.172 following a 7.13% daily decline. The asset sits below its short-term MA-20 at $1.212 and medium-term MA-50 at $1.232, while remaining above the long-term MA-200 at $1.071. The community is voting on Referendum #1944 to introduce dotUSD, a native stablecoin backed by DOT and seeded with USDT and DOT from the treasury.
This initiative, modeled after Liquity v2, aims to establish dotUSD as part of ongoing network economic reforms. Market ambiguity regarding the proposal's long-term impact has contributed to subdued sentiment and broader selling pressure. Technical indicators show conflicting signals, with a bearish MACD, neutral ADX, and an RSI of 45.118.
The Stoch RSI is overbought, suggesting a potential for near-term reversals, while Bull/Bear Power reflects strong intraday buyer presence. Immediate resistance is found at the Ichimoku Kijun level of $1.217. Analysts project a volatility band between $1.121 and $1.223 for the next two to three sessions.
There is a 58% probability of further downside compared to a 42% chance of an upward move. A close above $1.217 could trigger a bullish breakout, while a slip below $1.121 support would indicate a bearish scenario.
How the market reacted
Whalio's own Binance spot order flow for DOT, measured when this story was written up on 28 September 2026. Not the outlet's figures.
Whalio data shows DOT trading at $1.27 with a 1-hour buy ratio of 53.8% and a 4-hour buy ratio of 49.3%. These short-term figures contrast with the 24-hour buy ratio of 50.9%, indicating that buying pressure is currently building in the immediate term. The 1-hour volume delta is positive at $33,953, whereas the 4-hour delta is negative at -$33,943, showing that recent buying has offset earlier selling. The 24-hour volume delta stands at +$229,569, confirming net inflows over the full day. CVD for the 24-hour close is -$2,027,052, meaning that despite the positive volume delta, cumulative volume delta closed in negative territory. Spot volume over 24 hours reached $12,395,495 across 87,974 trades. Net buying occurred for 7 of the last 24 hours.
The latest daily buy ratio of 48.8% sits at the 47th percentile of the last 322 days, against a median of 48.9% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for DOT, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 49.6%, making the current 24-hour ratio of 50.9% slightly higher by 1.3 points. Volume for the day was 0.82x the weekly average, indicating a quieter trading day than usual. The coin saw a price change of +11.7% over the past 8 days, with a total volume delta of -$417,905 for that period. Net buying was recorded for only 3 of the 7 days in the weekly window. This suggests that while the recent price action has been positive, the current day's volume is below average and buying activity is less consistent than the weekly trend might suggest.