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$POL ā Polygon slips below $0.20 amid continued pressure
$POL faced renewed selling after failing to hold above $0.20 and is now trading near $0.1931, down -2.23% in the past 24 hours.
š Current Analysis:
POL continues to struggle after multiple failed recovery attempts. The token remains weak below $0.20, showing lower highs and steady selling pressure. Momentum indicators reflect a bearish undertone, with reduced trading volume suggesting fading interest from buyers. Despite small bounces, bears remain in control as short-term charts confirm a gradual downtrend.
š” Trading Tips:
š¢ Support: $0.1900 / $0.1850
šµ Resistance: $0.1990 / $0.2050
š« Breakout scenario: A close above $0.2050 could spark a short rally toward $0.2150ā$0.2200, signaling a possible shift in short-term sentiment.
š« Sideways scenario: If price stabilizes between $0.1900ā$0.2000, POL may consolidate before a decisive move, creating potential range-trading opportunities.
š« Breakdown scenario: A drop below $0.1900 may trigger further losses toward $0.1850ā$0.1800, increasing downside risk unless buyers step in strongly.
š« Best entry / SL suggestion:
Traders may consider entries around $0.1900ā$0.1920 with a stop-loss below $0.1850, targeting $0.2050ā$0.2100. A safer play would be waiting for a confirmed breakout above $0.2050 for a continuation setup.
Overall, Polygon remains in a cautious zone, struggling to regain momentum after a week of heavy decline. Holding $0.19 is keyāits loss could accelerate bearish momentum, while recovery above $0.2050 might restore short-term confidence.
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