POL: From a price perspective, the pullback into support between $0.186 and $0.357 aligns well with the idea of a fourth wave within a larger upside impulse. However, the prolonged nature of this retracement reduces confidence in that outlook. Given the complexity of the correction and the broader position within the crypto cycle, a break of support and a deeper correction remain plausible. In that scenario, a test of the $0.023 - $0.065 region could come into play. It may be prudent to wait for a clear confirmation of a local low before turning bullish on this chart again.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.