📊POL/USDT Technical Analysis – 4-Hour Frame
The POL/USDT pair is currently trading within a descending channel on the 4-hour timeframe, adhering closely to the channel’s boundaries. The price has recently bounced off the lower limit of this descending channel, with the support zone now positioned at $0.3622.
Key Indicators:
• RSI Indicator:
• There is an upward trend visible on the RSI, which is approaching a potential breakout. If the RSI trend breaks upward, it could act as a bullish signal supporting a potential rise in price.
• Moving Average:
• The price is showing signs of stabilizing above the 100-period moving average, further adding to the bullish momentum.
Potential Trade Setup:
• Entry Price: $0.3680
• First Target: $0.3819
• Second Target: $0.3964
• Third Target: $0.4121
• Fourth Target: $0.4290
Given the combination of technical factors, including the bounce from the lower support of the channel, the positive RSI trend, and the stabilization above the moving average, we can anticipate a gradual climb towards the outlined targets, provided the price sustains above the entry point of $0.3680.
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