Polkadot's price has seen a significant drop below the crucial $6 support region, indicating a potential continuation of the downtrend. The daily chart shows a substantial increase in selling momentum, pushing the price below the $6 support level. The price shows no signs of recovery, suggesting a continued downtrend. However, a temporary pullback to the $6 threshold could occur, confirming the breakout and solidifying the bearish scenario.

The 4-hour chart shows a clear pattern of lower lows and lower highs, indicative of a pronounced downtrend and ongoing seller dominance. The cryptocurrency is retracing within a bearish price channel, underscoring continued selling interest. The price has approached a crucial support area of around $5.5, which is historically significant as support in multiple instances.

Polkadot has been in a strong downtrend over the past few weeks, falling below the critical $6 threshold. A significant amount of liquidity is positioned above the major swing high of $7.3, where the current impulsive bearish trend began. This area is likely filled with buy-stop orders, indicating substantial selling activity and aggressive short positions. Despite the ongoing downtrend, sellers will eventually need to realize their profits, leading to periods of consolidation and potential bullish retracements.