🚀Buckle up, BTC enthusiasts! Polkadot (DOT) is making waves in the crypto market! 🌊 Recently, the coin has seen a surge in buying activity near the $5.5 support region, leading to a significant price boost and breaking above the lower boundary of a previously breached multi-month triangle. 📈 This suggests a false bearish breakout and hints at a potential period of bullish retracements. 🐂

On the daily chart, DOT’s bullish revival is evident near the $5.5 support range. This area has seen a surge in buying activity, leading to a resurgence of demand and a notable price increase. The coin broke above the lower trendline of the multi-month triangle, indicating an increase in buying interest. 🎯

However, DOT now faces a crucial resistance region at the $6.3 level. If buyers can surpass this threshold and maintain the bullish momentum, the uptrend could continue towards the 100-day moving average of $7.2. 🚀 But, if the price is rejected at this resistance, Polkadot could enter a consolidation phase within the $5.5-$6.3 range. 🔄

The 4-hour chart provides further insights into DOT’s price action. Following a break above the descending price channel, the price saw a notable surge, indicating a revival in demand and buying pressure. If Polkadot can reclaim the $6.3 resistance level, it could trigger a short-squeeze and shift market sentiment, leading to a sustained uptrend towards the $7 resistance region. 📈

The chart also reveals that the price has been targeting liquidity pools above its swing highs during the recent uptrend, reflecting bullish momentum and increased buying interest. Notably, substantial liquidity is concentrated above the critical $6.3 resistance level, which could be a short-term target for buyers. 🎯

In conclusion, Polkadot's price action in the upcoming days will be pivotal in determining its trajectory. So, keep your eyes peeled, crypto enthusiasts! 👀🚀