POL has surged 60% following a breakout from a prolonged bearish trend, reaching near the $0.18 resistance level. The rally was marked by a decisive break above a descending trendline, which had previously seen sustained selling pressure. This breakout, supported by rising trading volumes exceeding $600 million, indicates strong market participation and a shift in market dynamics.
Despite the rapid gains, technical indicators suggest a potential cooling phase as the price approaches the $0.18 to $0.19 resistance zone. A TD Sequential "9" sell setup has appeared, signaling possible short-term hesitation. However, as long as POL maintains higher lows and holds above the former trendline, the bullish trend remains intact. A retracement to $0.16 or $0.15 could be constructive, provided support levels are maintained.
POL Price Surges 60% Amid Breakout, Faces Resistance at $0.18
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
