🚀 Polkadot (DOT) is on the move! 💹 The crypto has seen a surge in buying activity, bouncing back from a $5.5 support level and breaking above a multi-month triangle's lower boundary.

📈 This bullish retracement suggests an uptick in market interest. The $6.3 resistance level is the next hurdle. If buyers can push past this, we could see a climb towards the 100-day moving average of $7.2.

🔍 A closer look at the 4-hour chart shows a break above the descending price channel, hinting at a revival in demand. If DOT can reclaim the $6.3 resistance, we might see a shift in market sentiment and a sustained uptrend.

📉 But, if the price faces rejection at this level, a short-term consolidation phase within the $6.3-$5.4 range is expected.

🤔 What do you think? Will DOT break the resistance or enter a consolidation phase? Share your thoughts below! #Polkadot #CryptoNews #DeFi