Can Polygon’s POL Dance Its Way to $0.135? Spoiler: It’s a Tricky Tango!

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Ah, Polygon! The star of the show, or at least a supporting actor with a surprisingly large role in the latest drama of stablecoin transfers. It seems that our little friend, POL, has taken another leap towards becoming the most popular coin since someone invented money.

In a twist that surprised precisely no one, AMBCrypto reported a flurry of trading activity. Apparently, there’s been more stablecoin addresses popping up than mushrooms after a rainstorm – and just as unpredictable.

Now, let’s not forget the 25.9 million POL burn. This particular event was like throwing a few logs on the fire of fundamentals. More burns are on the menu too, because why not tighten the supply like a well-fitted pair of trousers?

But hold your horses! Looking at the 1-day timeframe, it appears our dear Polygon is wearing its bearish hat again. Yes, it briefly hopped over the $0.1 mark like a kid on a sugar high, but then it took a trip down to reality past the local resistance at $0.119. Talk about a rollercoaster that only goes down!

Yet, there’s a glimmer of hope-like finding a twenty-dollar bill in last winter’s coat pocket. The A/D indicator has been flexing its muscles, showing that our buyers might indeed have some strength left in them. If they keep this up, who knows? POL could be strutting its stuff all the way to the 78.6% retracement level at $0.1646, waving at everyone along the way.

But lo and behold! The $0.135 level stands tall, like a bouncer at a very exclusive club, ready to thwart our short-term buyers. If they can flip that pesky $0.119 from being a mean old resistance to a generous support, we might just have a party on our hands!

Why POL Traders Should Keep Their Bearish Goggles On

Now, before you start throwing confetti, let’s face the music: high network activity and token burns might not be enough to quell the short-term selling pressure. It’s like trying to plug a dam with a piece of chewing gum; it’s just not going to hold!

The 1-hour chart tells a sad tale of the valiant Polygon bulls trying to push prices up to the local resistance of $0.119. On Saturday, February 14th-a day usually reserved for romantic gestures-there was high hourly trading volume and a rally that suggested a potential breakout. Alas, the sell-off came in with equal gusto, showing that buyers were as out of breath as a marathon runner at the finish line.

What did this achieve? Just a bit of liquidity hoovering around $0.11-$0.12. And wouldn’t you know it, the internal structure of H1 decided to wear its bearish pants again. The moving averages were poised for a crossover like two awkward dancers at a wedding, acting as resistance to POL at the time of writing.

So, combined with Bitcoin’s rejection from the $70.7k local supply zone, it seems quite likely that the Polygon Ecosystem token prices are set to continue their downward trend in the days to come. Buckle up, it’s going to be a bumpy ride!

Final Summary

  • The long-term trend of POL is decidedly bearish. However, the coming weeks could see the $0.119 supply zone flipped into demand, igniting a relief rally towards $0.135-$0.164. Fingers crossed!
  • In the next 24-48 hours, expect more losses to dance around for the altcoin. It’s like watching a sad clown at a circus!

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2026-02-16 08:17