Polkadot (DOT) has seen a significant surge in buying activity near the $5.5 support region, resulting in a bullish revival. The price broke above the lower trendline of the multi-month triangle, suggesting a false bearish breakout and an increase in buying interest. Currently, DOT faces a crucial resistance at $6.3. If buyers surpass this and sustain the momentum, the uptrend could continue towards the 100-day moving average of $7.2.

On the 4-hour chart, DOT confronts a critical resistance area, which includes the $6.3 resistance level and the previous major swing high of $6.428. If Polkadot reclaims this resistance, it could trigger a short-squeeze and shift market sentiment, leading to a sustained uptrend towards the $7 resistance region.

The sentiment analysis reveals an increase in demand, leading to a significant rise toward its previous major swing high of $6.3. Notably, substantial liquidity is concentrated above the critical $6.3 resistance level, which could be a short-term target for buyers aiming to reclaim this pivot and liquidate short positions. The forthcoming price action in this area will likely offer valuable insights into the future direction of Polkadot’s price.