Taking a look today at $POL/USDT, currently trading at $0.0861. Based on the chart, the price is testing a very strong historical support zone after a continuous downward trend since the start of the year.
Technical Highlights:
RSI & STOCHRSI: These indicators have hit extreme "Oversold" levels, providing a strong technical signal that selling pressure is exhausted and a bounce back is imminent.
MACD: We notice the lines starting to converge, indicating a weakening bearish momentum and a potential positive crossover.
Volume: Stability at these levels suggests that sellers are losing grip and buyers are stepping in to watch for an entry.
Outlook:
If the price holds above the $0.080 - $0.085 zone, we could see a corrective move targeting $0.10 as a first goal, followed by $0.12 if overall market conditions stabilize.