Polkadot's Rebound Hinges on Breaking $0.90 Resistance

Polkadot (DOT) is facing a critical resistance cluster at $0.90-$0.92, but its momentum has flatlined and open interest has shrunk, signaling that this bounce may not be sustainable.

The asset's 2.22% intraday grind to $0.88 looks constructive, but it remains nearly 30% below its 200-day moving average at $1.13, which is a strong supply wall.

Short-term moving averages are beginning to converge below price, suggesting the $0.81-$0.82 double-floor is developing some structural credibility.

The derivatives picture shows open interest dropped 3.68% on the day, despite the spot price gain, which indicates that this bounce may be due to short-covering rather than fresh bull positioning.