📊 POL/USDT Daily Chart Analysis – Breakout in Progress? 🚀
Current Price: $0.3605
24-Hour Change: +6.89%
Volume: 51.11M POL
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POL has broken out from its descending trendline, signaling a potential bullish reversal. The price has surged and is now trading above the support zone, which aligns with a previous resistance level around $0.33 - $0.34.
📈 Key Levels to Watch:
Immediate Support: $0.33 - $0.34 (recent breakout zone)
First Resistance Target: $0.43
Second Resistance Target: $0.446
📌 Trading Strategy:
Entry: Around $0.36 if price consolidates above the breakout level, showing signs of continued upward momentum.
Targets:
First Target: $0.43
Second Target: $0.446
Stop Loss: $0.33
Setting a stop loss below the recent support level helps manage risk if the breakout fails.
Leverage: Up to 5x (Use with caution)
⚠️ Risk Management:
As with all trades, risk management is crucial. Set appropriate stop losses, avoid overleveraging, and only trade within your risk tolerance.
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📢 Conclusion:
POL has shown strong bullish momentum by breaking out of its descending pattern, and it now has the potential to reach higher resistance levels if the trend continues. However, it’s essential to monitor volume and price action closely for confirmation.
Happy trading, and remember to stay informed!
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