As reported by CryptoPotato, technical analysis by analyst Shayan showed that Polkadot’s price found support at the important $6.5 mark after breaking above the key 200-day moving average. However, a sudden break above this key support level could trigger a significant decline in the short term. A closer inspection of the daily chart shows uncertainty and sideways consolidation near the key $6.5 level. Recent price action has seen the price break below the important 200-day moving average, now at $7.1, which suggests sellers are trying to break through the $6.5 support. If the bear market breaks out successfully, then the likelihood of a sharp decline to the critical $5.5 support level is very high. Conversely, if there is a sudden bullish turn, buyers will target the key 200-day ($7.1) and 100-day ($8.1) moving averages in the medium term.