$POL $BTC

This chart represents the POL/USDT Perpetual Contract on Binance with a 1-hour timeframe.

Analysis:

Trend:

Initially, the price was in an uptrend, reaching a peak around April 25-26.

After hitting a high of 0.24655 USDT, the price started declining, forming a downtrend.

Current Position:

The price is currently at 0.17571 USDT.

The lowest recent price was 0.15183 USDT.

The trend still appears bearish, but there was a small recovery recently.

Volume Analysis:

A spike in volume occurred during the recent drop, indicating high selling pressure.

Another volume surge happened during a short-lived rebound, suggesting a temporary demand.

Possible Scenarios:

Bearish Continuation:

If the price fails to hold above 0.175 USDT, it may retest 0.155 - 0.151 USDT.

Further breakdown could lead to new lows.

Bullish Reversal:

If buyers step in and push above 0.185 - 0.190 USDT, the price may recover.

Breaking above 0.20 USDT would be a strong bullish signal.

Trading Strategy:

For Long Positions (Buyers): Wait for a clear breakout above 0.185 - 0.190 USDT.

For Short Positions (Sellers): If rejection happens near 0.180 - 0.185 USDT, further downside is possible.

Would you like me to add support/resistance levels or any technical indicators for deeper analysis?