Today, Polymesh (POLYX) is experiencing a significant surge in momentum, trading with a bullish bias as it attempts to recover from recent monthly lows.
The asset reached a 24-hour maximum high of $0.061, showing strong upward pressure compared to its intraday low of $0.047. This recovery marks a double-digit percentage increase within the last 24 hours, fueled by renewed interest in the Real World Asset (RWA) sector and the recent rollout of confidential asset features on its development network.
Trading Signal: Neutral to Bullish (Short-Term)
• Analysis: While the long-term trend remains under pressure from macro headwinds, the short-term chart shows a potential "oversold bounce." The Relative Strength Index (RSI) is climbing out of extreme oversold territory, suggesting that the selling pressure has temporarily exhausted itself.
• Key Levels: Traders should watch for a sustained hold above the $0.055 support level. A breakout above the $0.062 resistance could trigger a further rally toward the psychological target of $0.067.
• Strategy: For short-term scalpers, a "Buy on Dips" strategy near $0.052 might offer a favorable risk-reward ratio, provided a tight stop-loss is maintained below $0.046. Conservative investors may prefer to wait for a confirmed trend reversal on the daily timeframe before entering long positions.
