Polygon (POL) can decrease by almost 50 %, as the price decreased to less than the main support level
Polygon price (POL) made a series of low altitudes and low decrease since December 6, with a decrease in approximately 50 % of that period so far. This may not stop soon due to the technical analysis published by Ali’s plans.
It is suggested that the original Polygon symbol can go to a constant contraction. According to the X -shared ali analysis, POL may face a possible 44 % correction, as prices are likely to decrease to $ 0.23.
The time frame for 4 hours reveals a disturbing pattern of POL merchants. The formation of a descending triangle appeared, traditionally seen as a declining indication of technical analysis. This pattern shows a less constantly POL manufacturing with a bounce of the support level of about $ 0.41, which corresponds to the main Fibonacci level.
Ali analysis It becomes particularly relevant because POL has recently broken less than $ 0.41 support level. This collapse of the descending triangle style indicates the installation of the sales pressure on the market. The pattern structure, with a series of low high -support heights, indicates that buyers gradually lose their grip on the market.
Pol PRICE goals and Fibonacci levels
Looking at the possible negative goals, Ali refers to several key Fibonacci extension levels. These include $ 0.3247 (1.272 extension), $ 0.2783 (1.414 extension), the most prominent of which is $ 0.2116 (extension of 1.618). The latter is closely consistent with the expected goal of the $ 0.23, which represents a 44 % decrease from the current levels.
Also read: 4 reasons the offer price can explode soon: experts predict 13x hours
However, this landline scenario has not been placed in the stone. As noticed, the Haboodi expectations can be nullified if POL can recover 0.41 dollars with a strong purchase volume. In addition, traders must see the level of $ 0.4836 (0.786 Rerrding Fibonacci) as another key resistance point. A successful breach above these levels can indicate a possible reflection.
The current technical preparation, as explained by Ali, indicates that POL may enter a difficult period. The action of the descending triangular style supports the possibility of a large correction. However, as with all technical analyzes, merchants must look at multiple factors and use suitable risk management strategies before making investment decisions.
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