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Polygon (POL) has been experiencing a prolonged bearish trend, with no indication of a reversal in sight. As a result, investors are left wondering if there is any hope for an immediate recovery.
The asset has consistently failed to breach the $0.5250 level, indicating that sellers have gained the upper hand and are currently dictating market sentiment. Furthermore, technical analysis highlights a bearish trend continuation as long-term indicators show no signs of reversal.
Market data indicates a strong bearish momentum with the RSI indicator showing a deep oversold territory. The MACD has also turned negative, further reinforcing this notion.
Despite these unfavorable factors, there is a chance that POL could see some upward momentum in the short term.
Source: ambcrypto.com
