$POL POL surge as Ethereum reclaims $3,700

POL regains bullish momentum, targeting $0.2822

POL edges higher by over 2% on Thursday, extending the uptrend for the fifth consecutive day. The altcoin surpasses the 100-day Exponential Moving Average (EMA) and the 23.6% Fibonacci level at $0.2227, which is drawn from the $0.7685 peak on December 3 to the $0.1519 low on April 7.

The recovery run targets the crucial resistance zone near the 38.2% Fibonacci level at $0.2822, close to the 200-day EMA at $0.2640. A decisive close above this level could reinforce an uptrend in POL, extending the target to the 50% retracement level at $0.3417.

On the flip side, a reversal below the $0.2227 level would invalidate the uptrend thesis, potentially retesting the 50-day EMA at $0.2167.