š® Polkadot (DOT) is playing the waiting game, folks! It's been stuck in a sideways consolidation phase, bouncing between $7.4 and $6.4. šš
šÆ The key to DOT's future? A breakout from this range.
š Daily chart analysis shows DOT's price is hemmed in by a tough resistance at $7.5 and a solid support at $6.4. Recently, DOT rebounded from the lower boundary, reaching the upper limit. If buyers push past $7.4, we might see a bullish trend. š
ā±ļø On the 4-hour chart, DOT's been dancing within an ascending wedge pattern. A breakout from this pattern will set the price's direction.
š Sentiment analysis shows a lot of liquidity above $7.5. If DOT buyers target this, we could see a short-squeeze event. But be careful, a fake breakout could also occur.
š£ļø What do you think? Will DOT break out or break down? Share your thoughts below! #Polkadot #DeFi #Web3
[Original content from CryptoPotato]