Polygon POL plunges 8.9% as selling pressure drives token below $0.1

  • Polygon’s POL token fell below $0.1 as broad market selling intensified.
  • POL declined 8.9%, while trading volume rose 54.8% to $87.6 million.
  • Derivatives data showed $46.79 million in sells versus $43.2 million in buys.

Polygon’s POL token fell 8.9% on the day, breaking below the $0.1 support level and reaching a low between $0.093 and $0.092, according to different passages in the source. POL was trading around $0.094 at press time. Volume increased 54.8% to $87.6 million, indicating heavier market activity during the decline. Spot netflow turned positive at about $849,000, suggesting funds were entering exchanges as investors reduced exposure. Derivatives data was more negative: Polygon perpetuals recorded $46.79 million in sell volume versus $43.2 million in buy volume, while delta fell to -$9.8 million and net buying stood at -$98 million. Futures outflows reached $23.6 million against $22.1 million of inflows, leaving netflow at -$1.55 million for a trend that had lasted five days. The source said POL’s MACD fell to 0.007 and its positive ADX DI declined to 35, reinforcing the bearish momentum. If selling pressure persists, POL could fall below $0.09, with $0.082 identified as the next support. A daily close above $0.1 and a recovery of the $0.12 resistance would invalidate the bearish pressure.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.
Polygon POL plunges 8.9% as selling pressure drives token below $0.1 - CoinPost Terminal