POLUSDT - GEARING UP OR GIVING UP?Symbol - POLUSDT
POLUSDT is currently trading within a defined range, exhibiting a counter-trend rally amidst a broader downward trend. A significant liquidity zone lies ahead, which may influence price action in the near term.
A distribution pattern has emerged following a period of consolidation within the 0.1929 - 0.1750 range. The potential realization phase of this distribution may encounter resistance and possibly halt between 0.2280 and 0.2438, This scenario would be supported by signs of price exhaustion or a false breakout within this zone.
Despite the recent local strength observed in Bitcoin, POLUSDT remains fundamentally weak. On the daily timeframe, the asset continues to trade within a broader selling zone, suggesting the market is currently accumulating liquidity in preparation for a potential continuation of the downward movement.
From a technical standpoint, the ongoing upward correction may conclude with a false breakout at the resistance levels of either 0.2284 or 0.2438, potentially triggering a retracement or reversal.
Key Resistance Levels: 0.2284, 0.2438, 0.2465
Key Support Levels: 0.2061, 0.1929
Should the price approach these resistance levels at the current pace, market momentum may diminish, potentially leading to a corrective phase or even a reversal, in alignment with the prevailing macro trend.
