The Polygon (POL) price might face a bearish trend following a recent over 20% spike in the last four days.
Price Surge and Possible Decline
Looking at the 4-hour chart, the price has been bouncing off a trend line initiated on November 4. This line acted as support on November 15, and given the upward price movement thereafter, a return to this line before a bullish continuation is possible.
Current Metric Analysis
Analyst Ali Chart reports that 81.6% of Polygon holders are in a loss, contributing to bearish expectations regarding further price drops.
Mixed Signals from Activities
Despite negative metrics, there have been spikes in daily activities, transaction volumes, and whale activities, which could indicate increased interest and market participation.
Mixed signals in POL metrics complicate price trend forecasts. Should bearish trends continue, traders might look to the trend line for a price spike opportunity.
