Polkadot Price Surge: Will It Break Past Resistance or Crash? You Won’t Believe What Happens Next!

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  • Polkadot shows glimmers of hope for a bullish trend, but alas, buying pressure is as weak as a cup of tea
  • The liquidation heatmap and Fibonacci levels seem to be agreeing… or do they?

As of this very moment, Polkadot [DOT] is putting on quite the show, flaunting bullish signs on the lower timeframe charts, and looks ready to smash through the $4.2 local resistance level. Meanwhile, Bitcoin [BTC] is doing its thing above the $92k mark, making altcoins everywhere believe in miracles.

Last week’s analysis pointed out that the $3.8 level was the magic number to flip into support. Miraculously, DOT’s bulls managed this feat. But, dear reader, it seems they might have loftier goals in mind.

Polkadot Keeps Its Bearish Swing Structure, But Traders Hold onto Hope—For Now

On the 1-day chart, the swing structure is still playing the waiting game, as captured by the Fibonacci retracement levels. To shift gears into a bullish mode, Polkadot must break through the high of $4.76. The key resistances in the meantime? Oh, just a little $4.18 and $4.44. Nothing to worry about, right?

The A/D indicator has been about as thrilling as a snail race over the last month. No signs of an uptrend, no buying pressure to speak of. It’s as though the bulls are just lounging around waiting for something to happen. Oh, and don’t forget the Awesome Oscillator still hanging out below the zero line—no bullish momentum there, folks.

The DMI is also sending mixed signals, with both the -DI and +DI below 20. In other words, the market participants are playing it safe, wary of committing to any clear trend over the past week.

Now, let’s zoom in a little closer. And by “closer,” I mean, let’s hope for a miracle.

Over the last two weeks, the price has set a series of higher highs and higher lows. Yes, that’s right, a bullish structure is starting to form. The DMI, despite being all over the place, is hinting at an uptrend in progress. And the A/D indicator’s little uptick? It suggests that someone, somewhere, is starting to demand Polkadot. Probably not your average Joe, but hey, progress is progress.

But hold your horses! The liquidation heatmap is giving us some cautionary advice: be careful about jumping into long positions right now. The $4-$4.18 and $4.3-$4.4 regions are acting like magnets, drawing the price higher—but also ready to pull the rug out from under you with a nasty bearish reversal. So exciting, right?

For those of you brave enough to risk it, consider booking profits at the $4.18 and $4.44 resistance levels. Should Polkadot break through and retest $4.44 or even $4.76 as support, then, and only then, could we talk about entering long positions for the next thrilling leg up.

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2025-04-23 10:19