Polkadot (DOT) recently surged towards crucial resistance territory, marked by the upper limit of the monthly wedge and the $6.4 threshold. This area is likely filled with significant supply, potentially halting upward momentum in the short term and leading to a temporary sideways consolidation phase. ๐Ÿ“ˆ

Based on technical analysis, Polkadot's daily chart shows a significant price spike from the crucial $5.5 support, likely driven by aggressive long positions in the perpetual market. However, the price has reached a critical range, capped by the resistance of the previous major swing at $6.42 and a dynamic rising trend line.

Will DOT continue to skyrocket or will it take a break? Come on, give your opinion in the comments column! ๐Ÿ˜„

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