POL/USDT Technical Outlook: Bearish Signals on the Charts

Polygon (POL) is flashing red across multiple timeframes. The price has slipped below crucial moving averages, a classic bearish indicator, while the RSI momentum indicator continues its downward spiral. Not exactly the setup traders dream about.

What's interesting? Despite these near-term headwinds, POL hasn't wiped out its year-to-date gains entirely. The coin still shows some resilience when you zoom out. But zooming in? That's where the pressure becomes real.

The recent price action tells a story of selling pressure overtaking buyers. With the coin struggling to hold key technical levels, traders are keeping a close eye on whether this is a temporary pullback or the start of something more serious. The technical setup suggests caution is warranted for the near term.