🚀Polkadot (DOT) is on the move, folks! After a period of consolidation around the $6 mark, the buyers have taken control, sparking a bullish rebound. The DOT price has reclaimed the 200-day moving average at $7, signaling an optimistic outlook for its long-term trajectory.📈

However, we're not out of the woods yet. Significant resistance lies ahead, including the 100-day moving average at $8.1 and the 0.5 Fibonacci retracement level ($8.8). These marks, along with the critical support provided by the 200-day MA, are key reference points for Polkadot in the short term.🔑

On the 4-hour chart, we're seeing a sideways triangle pattern following a period of indecisive consolidation near the crucial $6 mark. But the price has broken above the upper boundary of the triangle, indicating the dominance of buyers and sustaining upward momentum.📊

The Polkadot price has entered a crucial range defined by the 0.5 ($7.4) and 0.618 ($7.8) Fibonacci levels, where a significant amount of supply may be present. A break above this crucial region would likely lead to the continuation of the current uptrend toward the critical resistance level at $8.8.🎯

In the perpetual futures market, there's been a decrease in both Funding Rates and Open Interest metrics, suggesting the market has cooled down and shifted to a neutral stance. This could indicate that the market is poised for renewed activity, potentially leading to significant price movements. So, buckle up, Polkadot enthusiasts! The ride is just getting started!🚀🌕