Based on the analysis of the POL/USDT (Polygon Ecosystem Token) chart my shared, here is a detailed breakdown of the current situation, support/resistance levels, and potential breakout points:
1. Current Market Situation
The coin is currently in a Bullish Trend. It has gained approximately +13.47% in the last 24 hours.
EMA Indicators: The price candles are trading above the 7, 25, and 99-period Exponential Moving Averages (EMA) This indicates strong upward momentum.
OBV (On-Balance Volume): The yellow line at the bottom is trending upwards#
suggesting that buying volume is increasing and investors are accumulating.
2. Support and Resistance Levels
Identifying these levels helps in knowing when to enter or exit:
Immediate Resistance: The recent high is at 0.1608 This is the first ceiling the price needs to crack.
Major Resistance: If it breaks 0.1608, the next major target/resistance zone is between 0.1650 and 0.1700
Support Levels: If the price pulls back 0.1570 (EMA 25) and 0.1506 (EMA 99) will act as safety nets. The strongest support for the day is at 0.1408 24h low
3. Breakout Analysis: When will it pump more
For a significant pump or further upward movement, the price needs to:
Break and Close: A 15-minute or 1-hour candle must close decisively above the 0.1610 – 0.1615 level.
Volume Confirmation: Look for a spike in the green volume bars during this breakout. If it breaks out with low volume it might be a fakeout
4. Strategy Caution for Buyers
Before buying at this level, consider the following:
Avoid FOMO: Since the coin has already pumped 13%, buying at the very top can be risky
Wait for Re-test: A safer entry is often after a breakout, when the price drops slightly to "test" the previous resistance as new support.
Stop Loss: To manage risk, consider placing a stop loss below 0.1500 or 0.1480.
$POL #TraderAlert #BinanceHODLerBREV