Polkadot Retests Key Support Zone as Analysts Consider Potential Rebound Toward $4.46

Key Points

1. Polkadot is retesting the $3.44–$3.53 support zone, aligned with Fibonacci retracement levels, indicating potential bullish momentum toward $4.00 and $4.46 resistance levels.

2. Open interest increased by 2.76% to $426.11 million, signaling sustained trader engagement despite a 41.22% drop in derivatives volume to $352.54 million.

3. DOT's market capitalization remains stable at $5.78 billion, with 1.6 billion tokens in circulation, showing no inflation risk.

4. The long/short ratio is below 1 at 0.9712, though Binance traders show a stronger long bias at 3.4543, indicating selective bullish sentiment.

5. Total liquidations over the past 24 hours were $386.75K, predominantly from long positions ($370.86K), yet the market shows resilience with active buyer and seller activity.