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💎 Technical Analysis: Polygon ($POL )
Market Capitalization: $1B.
On the POL chart, we're observing a prolonged sideways range after a recent update of historical lows.
Price is testing critical levels, forming one triangle after another.
How to trade❔
💬 Buy on resistance breakout: wait for a break above the nearest level. Set stop-loss behind the nearest extremum. Target – the next resistance level.
💬 Sell on support breakdown: if price breaks below current lows – open a short. Stop behind the nearest extremum, take profit before the next support zone.
💬 Risk/reward ratio will look attractive with a clear breakout in either direction.
Important: don't rush the entry – wait for directional confirmation with volume!
Conclusion:
POL is in a classic sideways range – an ideal situation for breakout trading. Be patient and act on the signal!
📈 Open a trade with $POL 🔗 Chat • X • JioCoinsX