Polkadot Undergoing a Pivotal Retest—Can the Bulls Break the Barrier & Reach $6?
Polkadot Price experienced 200% growth during the 2024 rally in the fourth quarter, up from its lows to $11.61. Similar to the rejection in March 2024, the price faces a similar callback that forces the token to remain missing. However, liquidity on the platform has continued to rise significantly since the beginning of this month, suggesting that large-scale price action may be fast. However, there is a question of whether the Bulls can manage to push the price up to a critical resistance of $5.35.
2025 can be expressed as the year of ETFs, as more and more cryptocurrencies are on the list. The latest addition to the Grayscale submission is Polkadot, which puts market participants bullish on the upcoming DOT Price Rally. The number has been declining, witnessing a sudden rise, indicating that merchants are paying more attention to tokens. So if the bulls manage to maintain these important ranges, the price of trying to break resistance could reach $6.
As shown in the above chart, point price is testing the downtrend line, which has been a strong resistance since the beginning of the year. On the other hand, during the same period, RSI also remained in the lower frequency band and MACD was in the negative range. However, a bearish crossover MACD is about to occur, while RSI tries to exceed average, while RSI tries to improve.
So if the Bulls trigger a breakout beyond the range, the price could reach key resistance at $5.39. Breaking this resistance is very important to maintain bullish momentum. Otherwise, the price may face rejection and remain within that range. However, the rise in OBP&CMF shows a significant increase in liquidity in the bullish force. Therefore, the price of Polkadot is expected to maintain a comprehensive upward trend, which soon rose by $6.
