Whale selling intensifies, POL faces risk of falling to $0.20

Polygon (POL) price has seen a sharp drop due to intensified selling by large investors (whales). Despite a 13.74% increase in the past week, market sentiment has turned bearish, causing a sharp price correction in the short term. #3370759661

Whale selling pressure: Whales have transferred a large amount of POL to exchanges, leading to increased selling pressure in the market. According to IntoTheBlock data, the rate of whale funds flowing into exchanges has surged 737% in the past 24 hours, indicating that selling sentiment is increasing. At the same time, the increase in large transaction volume has also exacerbated bearish sentiment.

Support and risks: Currently, POL's key support level is at $0.3634. If it falls below this support level, it may fall further to $0.2855 or even close to $0.20. Although this support level may temporarily provide a rebound opportunity, the continued selling pressure remains.

Sentiment shift: Looking at open interest and liquidation data, shorts dominate the market, showing the prevalence of bearish sentiment. In the past 24 hours, short positions have increased significantly, while long positions have been liquidated.

Overall, the price of POL faces the risk of further downside, and the probability of a rebound in the short term is low. #超级MEME周期？ #BTC冲破9万 #美国CPI公布后降息预期上升