Polkadot's price has been on a rollercoaster ride, and its recent performance has left investors wondering what's next. After losing the crucial $6 level, DOT has shown a slight rebound, but the question remains whether this is a temporary reprieve or a sign of a bigger turnaround.

Looking at the daily chart, Polkadot's price has been trapped in a triangle pattern for months, with the lower trendline recently being breached. The current price action suggests a pullback to this broken trendline, which could be a make-or-break moment for DOT. If the bearish momentum resumes, Polkadot may head towards the $5 support range. However, if the price breaks out of this range, it could signal a new bullish trend.

The 4-hour chart tells a slightly different story, with Polkadot's price showing a potential bullish revival. After multiple supports at $5.4, the price has surged, breaking above a short-term descending channel. This could be a sign of a temporary bullish retracement phase, with the price oscillating between $6.2 resistance and $5.5 support. The next move will be crucial in determining DOT's future trajectory.

Sentiment analysis suggests that Polkadot is nearing a critical point, with a significant amount of liquidity positioned above the $6 resistance region. This could act as a strong resistance, validating the pullback. If sellers overcome buyers around this pivot, the price may initiate a new bearish trend in the mid-term.

In conclusion, Polkadot's price is at a crossroads, and the next move will be crucial in determining its future direction. Will DOT bounce back or break down? Only time will tell, but one thing is certain - the cryptocurrency market is full of surprises, and investors must stay vigilant to navigate these choppy waters.