Polkadot's price has been consolidating around the $6.5 resistance level, with potential for a bullish reversal due to heightened demand. The daily chart shows a fading bearish momentum after hitting the substantial support region of $6.5. However, the price is trapped within a critical range, bounded by the $6.5 support and a descending trendline. An imminent breakout is expected to determine the next move.

On the 4-hour chart, Polkadot saw a significant increase in demand near the $6.2 mark, leading to a surge towards the $6.8 resistance. Despite selling pressure and a subsequent retrace, the price appears confined to the $6.2 support and $6.8 resistance. A breakout from this range will likely clarify the upcoming price direction.

The Binance liquidation heatmap reveals significant buy-stop orders and liquidity above the $7.3 mark, making it a potential target for buyers. If the price reaches this range, it could act as a resistance, leading to heightened volatility and increased market activity. Despite the ongoing bearish sentiment, the market outlook remains optimistic.