Yello, Paradisers! Is #POLYXUSDT about to break free, or could we see a deeper dive into bearish territory? Letโs break it all down for #Polymesh setup:
๐#POLYX is forming a Descending Broadening Wedgeโa classic pattern known for signaling potential trend reversals. The price is currently going to test the upper descending resistance, sitting around $0.3156. A decisive breakout here could trigger a strong bullish move.
๐If #POLYXUSD breaks above $0.3156 with a solid 4H or daily close, the next target zone lies between $0.4000 and $0.4500, where sellers are likely to re-enter aggressively. You need to watch for increased volume and momentum to confirm this breakout.
๐On the downside, we have a reliable demand zone around $0.2314, with major support at $0.1933. These levels have provided significant liquidity for buyers in the past and are key for maintaining the bullish structure. The Bulls will definitely buy #Polymesh here and it will likely bounce back.
๐A breakdown below $0.1933 with a 4H or daily candle close would invalidate the bullish setup. This could lead to a steep drop, targeting $0.1500 or lower, potentially indicating a bearish market sentiment shift.
Stay focused, patient, and disciplined, Paradisers๐ฅ
