Polkadot's Short Squeeze May Be Running Out of Steam

The Polkadot price surge to $1.06 on a 10.5% single-session spike is likely a short squeeze running out of steam, according to technical analysis.

Rising above the Bollinger upper band and pushing the daily RSI over 76 indicates that the easy money has already been made, leaving late buyers vulnerable to a distribution trap.

The momentum engine, as indicated by the MACD histogram, is sputtering out, and the SMA 200 sitting at $1.11 remains an untouchable wall, reinforcing the bearish trend.