Polkadot [DOT] has risen 185% from the low point of $3.7 set on November 4th. It has already retraced some of the gains and the price may further decline.

Since the second half of March, Polkadot has been in a downtrend. Even in November, it continues to decline, but bulls can capitalize on the bullish momentum of bitcoin [BTC] to recover.

What DOT traders need to pay attention toResistanceis as follows.

DOT Breaks $10 Mark

The bullish momentum at the beginning of November pushed the DOT price up to $5.7. After a pullback to $4.75 and consolidation below $6, the bulls are preparing for the next rebound.

From November 22nd to 24th, DOT rose by 77%.

In the past few days, the token has experienced a significant pullback, with a trading price of $8.07 at the time of writing. The A/D indicator continues to climb strongly, indicating a high demand for the token.

In addition, the money flow index does not indicate a bearish divergence.

However, with Bitcoin approaching the support area of $90,000, altcoins are likely to face setbacks. This may force Polkadot towards Fibonacci retracement levels, namely $7.09 and $6,285.

Such a decline would be a buying opportunity.

Spot CVD decline implies weakening demand.

On Sunday, November 24th, the open interest (OI) of futures reached a peak of $0.3998 billion. On the same day, spot CVD saw a significant inflow of funds, showing an upward trend. The next day, this situation began to change.

Open interest and spot CVD are starting to decline, indicating a decrease in bidding in both spot and futures markets.

The spot price has dropped significantly, indicating strong selling pressure over a relatively short period of time. The financing rate remains positive, but overall, there may be a further decline in the next few days.