POL Token Declines 15% in 24 Hours, Market Cap at $2.09 Billion
POL Price Update
- POL, formerly MATIC, is trading at $0.2429, down 15% in the last 24 hours.
- The token has decreased 78% from its all-time high of $1.29 in March 2024.
Market Analysis
- Analyst Ali Martinez suggests POL may be on the brink of a breakout from a multi-year descending triangle.
- If this occurs, POL could drop to $0.041, an 83% decline from current levels.
- The daily RSI indicates oversold conditions, hinting at a potential short-term rally.
- Bollinger Bands confirm oversold status but require a move toward the mid-band for sustained upward movement.
- The MACD remains bearish, with no major appreciation expected until an upward cross occurs.
Support and Resistance Levels
- Key support near $0.20; resistance around $0.30.
- A failure to hold above $0.20 may lead to further declines.
Long-Term Outlook
- Despite recent struggles, long-term fundamentals of POL remain strong.
- Traders view current low prices as a potential accumulation opportunity.
- POL has a market cap of $2.09 billion, ranking 42nd among cryptocurrencies.
- Del Crxpto expresses bullish sentiment due to brand recognition and partnerships.