Bearish
Polygon (POL) drops 8.9% to $0.094, breaking key $0.10 support amid selling
In the past 24 hours, Polygon's POL token experienced a significant decline of 8.9%, falling to $0.094 and breaching the crucial $0.10 support level. This downturn is attributed to aggressive selling pressure, with trading volume increasing by 54.8% to $87.6 million, indicating heightened bearish sentiment. Derivatives data further supports this bearish outlook, showing outflows in perpetual and futures markets. Technical indicators like MACD and ADX DI confirm the downward momentum, with $0.082 identified as the next key support level.
Key points
- POL drops 8.9% to $0.094, breaking key $0.10 support amid aggressive selling.
- Trading volume rises 54.8% to $87.6 million, indicating intensified bearish sentiment.
- Derivatives data shows outflows in perpetual and futures markets, reinforcing bearish outlook.
- Technical indicators confirm downward momentum, with $0.082 as next key support level.
Sources
AI-generated from public news sources. Not financial advice.
