Polkadot (DOT) price has recently been characterized by low activity and little volatility. However, the cryptocurrency is at a critical juncture ready to determine the next direction of a potential boom. 📉📈

Daily chart analysis reveals a period of consolidation around the $6 level, marked by low volatility and market indecision. This hints at an impending war between buyers and sellers. 😲

However, Polkadot price is currently supported by a strong and stable range determined by the important 200-day moving average ($6.93) and the critical support level of 0.618 Fibonacci level ($6.7). This strong support zone has the potential to push the price towards the significant resistance zone around $9. 💪

On the 4-hour time frame, the price appears to have experienced a rapid decline towards the $6 level, followed by a slight reversal. However, the subsequent sideways surge phase showed low volatility and a distinct lack of momentum.

Still, the price has formed a sideways triangle pattern, and a breakout above the upper limit of this pattern indicates a continuation of the bull trend.

Currently, DOT is about to break above this triangle pattern. If this happens, Polkadot is expected to continue its upward trend.

So what do you think the price of Polkadot will be? We are waiting your comments! 👇👇👇