Bearish
Polygon (POL) drops 12% to $0.105 amid intensified selling pressure
Over the past 24 hours, Polygon's POL token experienced a significant decline, falling approximately 12% to $0.105. This downturn is attributed to intensified selling pressure, with trading volume decreasing by 34% to $157 million. Additionally, open interest in derivatives dropped by 11.3% to $111 million, indicating reduced market activity and potential profit-taking by investors.
Key points
- POL's price declined by 12.3% to $0.105, breaking below the $0.11 support level.
- 24-hour trading volume fell 34% to $157 million, suggesting decreased market participation.
- Open interest in derivatives decreased by 11.3% to $111 million, indicating potential profit-taking and reduced leverage in the market.
Sources
AI-generated from public news sources. Not financial advice.
