Polygon ( $POL ) Technical Analysis:
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Polygon remains above key support levels, particularly $0.392. A break below this could lead to tests at $0.38 (61.8% retracement) or $0.367 (78.6% retracement).
Key Points:
- Support levels: $0.392, $0.38, $0.367
- Wave analysis: Three-wave rally, potentially signaling support retests
- Concerns: Lack of clear upward impulse, early failure possible
- Market context: Weaker altcoin performance despite Bitcoin's rise
Next Steps:
- Watch for breaks below $0.392
- Continued upward movement could confirm diagonal or adjusted wave count
- Regular profit-taking advised for traders
Stay cautious and monitor key levels for potential buying opportunities.
