📉 Polygon (POL) Under Pressure: Bear Market Momentum Intensifies, Key Support Level Faces Test
Polygon (formerly MATIC) price continues to explore lower levels. Over the past week, POL has dropped 4.72%, currently trading around $0.0969. The weekly technical performance looks bleak.
🔍 Core Technical Indicator Analysis:
Moving Averages Comprehensive Pressure: POL is currently far below its key moving averages: MA-20 ($0.1177), MA-50 ($0.1221), and MA-200 ($0.1835). This indicates that sellers still hold absolute dominance in the medium to long term. Momentum Indicators: MACD and ADX show that the downward trend is strengthening. Bull/Bear Power is in the negative territory, further validating bearish momentum. Oversold Warning: RSI is currently at 35.66, and CCI is at -139.31. Although these two indicators show that the asset is approaching oversold territory, there has not yet been a clear reversal signal.
🛡 Resistance and Support:
The main obstacle facing bulls currently is the Ichimoku Kijun baseline. The likelihood of a trend reversal is low before effectively breaking through this resistance level.
📅 5-Day Forecast:
Expected Range: $0.0900 — $0.1050. Probability of Increase: less than 20% (based on current momentum). Risk Warning: If the support level of $0.0900 is broken, it may trigger a new round of accelerated decline.
Summary: The Polygon market is currently in a clear bearish trend. Traders need to closely monitor the defense of the psychological level at $0.0900.
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