📈 DOT Price Analysis: Polkadot Bulls Looking Primed to Attack the $10 Critical Resistance 🚀

📉 Polkadot Finds Strong Support and Potential Bullish Revival: Polkadot recently found support within a pivotal zone encompassing the 0.5 ($8.9) and 0.618 ($8.2) Fibonacci retracement levels and the influential 100-day moving average. This indicates a potential bullish revival in the medium term. 📈

📊 Daily Chart Analysis: Examining the daily chart, Polkadot experienced a significant uptrend after breaking above the 100 and 200-day moving averages in early November 2023. However, selling pressure around the $11.9 resistance led to a corrective retracement to a robust support region defined by Fibonacci levels and the 100-day moving average. The convergence of these levels suggests strong demand and potential resistance to further downward movement, with an immediate objective to breach the $10 resistance level. 📉

⏲️ 4-Hour Chart Details: On the 4-hour timeframe, Polkadot underwent consolidation following an uptrend to $11.9, breaching a multi-week ascending trendline due to profit-taking and liquidation. Reaching key support at $8 sparked buying pressure and a modest reversal. A potential pullback toward the breached trendline near $10 is anticipated, with a bearish retracement possible if $8 support is breached. 📊

📈 Sentiment Analysis and Futures Market: Futures market sentiment significantly impacts Polkadot's price trajectory, with an increasing long/short accounts ratio suggesting prevailing bullish sentiment. This outlook implies potential for a robust bullish trajectory post-consolidation. 📊