$POL $POL
$POL /USDT Technical Analysis:
Current Price: $0.3419
Resistance Levels:
1. Primary Resistance: $0.3499 (24h High) — This level has acted as a strong resistance recently, and the price is currently testing this area.
2. Secondary Resistance: $0.3554 — Slightly higher, where the price has struggled to break past in the recent trading history.
Support Levels:
1. Primary Support: $0.3220 (24h Low) — This level has held as support during the recent price movement, offering a potential buy zone if price retraces.
2. Secondary Support: $0.3066 — A deeper support level, where the price could find a floor if bearish momentum accelerates.
Entry Point:
Long Entry: Enter near $0.3419 (current price) if price breaks above $0.3499 (24h High), confirming a bullish move.
Short Entry: Alternatively, a short entry around $0.3499 (if the price fails to break higher and starts to reject this resistance), aiming for a retracement toward support.
Stop Loss:
For Long Position: Place stop loss below $0.3220 (support), around $0.3200, to account for volatility.
For Short Position: Place stop loss just above $0.3554 to allow for a safe margin in case of a breakout above resistance.
Take Profit Targets:
Long Target 1: $0.3554 — The first resistance level, where price might struggle.
Long Target 2: $0.3750 — If the price breaks through $0.3554, this could be the next potential resistance zone.
Short Target 1: $0.3220 (24h Low) — A likely target if the market retraces back to support.
Short Target 2: $0.3066 — A deeper support level, providing more room for the short position.
Reasoning:
Bullish Scenario: If the price breaks above $0.3499, it would signal a continuation of the uptrend, with potential for further gains.
Bearish Scenario: If the price struggles to break through $0.3499 and starts rejecting the level, it could signal a reversal toward the support levels around $0.3220 and $0.3066.
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