Polygon (POL) is facing a bearish outlook as technical patterns, including a flag and rising wedge, suggest a potential price drop to $0.1487. Currently trading at $0.2400, Polygon has underperformed the broader crypto market, marking a 70% decline from its November 2023 high. Key metrics indicate weakening demand, with stablecoin supply and transactions decreasing by 18% and 22% respectively over the past month. Additionally, DeFi total value locked (TVL) and futures open interest have also fallen, reflecting reduced liquidity and investor interest.