$POL is getting absolutely crushed again, down another 0.97% and now testing the 0.1225-0.1227 demand zone for the third time in a week. Every bounce has been on declining volume while every drop prints higher selling volume (53.78M POL traded). The 4H chart shows a perfect lower-high structure, EMA ribbon fully bearish, and the order book is almost perfectly balanced at 50/50 (classic distribution before the next leg down). Polygon’s rebrand hype is long dead, ecosystem activity stalling, and the broader L2 narrative is rotating away.
A daily close below 0.1225 opens 0.1150 fast, then 0.1050 measured move.
Trade plan:
Entry: 0.1225 – 0.1230
Target 1: 0.1150
Target 2: 0.1050
Stop Loss: 0.1265
R:R 1:3.8+
Bearish bias while under 0.1238. No mercy on this one.
