Why the POL price will stop by 10 %, despite ETH flows of $ 10 million star-news.press/wp

• Paul has increased dramatically over the past 24 hours, where Ethereum Investors moved the money to the original
• The market analysis revealed that the assembly can stop soon due to resistance levels and the pressure pressure from other market sectors

Polygon (POL) has gathered with double numbers on graphics, and has gained 10.43 % for trading at $ 0.2065 during the past 24 hours.

However, the data suggested that the assembly can be crowned. Especially since the sellers start controlling both the immediate markets and derivatives, and betting against more upward trend.

Ethereum Rally’s Poly’s Rally

The last -price motivation was in the price of Paul in the first place injecting the liquidity of cross systems, according to Artemis.

In fact, Total Bridge Netflow Data, which tracks the movement of money via Blockchains, revealed that Ethereum investors have moved a large capital to a past 24 hours.

Source: Artemis

At the time of the analysis, more than $ 10.4 million was used in net flows to buy a POL – a sign of the powerful demand for the original.

Historically, these demand mutations tend to stimulate height, while shedding himself through the last Paul gathering.

However, according to Ambrypto analysis, the assembly may end soon.

No light at the end of the tunnel?

The POL/ETH chart, which tracks the boxes of the boxes between the distinctive symbols, revealed that Paul attracted more capital during the price raption.

Interestingly, this step heading to the north coincided with the outbreak of a concessional channel – a usually upscale pattern. In previous cases, Paul gathered to the top of this style near $ 0.0000969 on the plans.

Source: TradingView

However, the levels of retreat Vibibonache highlighted the multiple resistance areas that could hinder more gains. The main resistance lies at 0.0000775 dollars – a level that POL must overcome to maintain the bullish direction on the plans.

Previously, the main procedure at the Fibonacci level led to a sharp rejection, as he pulled the POL/ETH to its lowest level at the end of June.

Similar rejection can lead to a restricted range trading between $ 0.0000777 as a resistance and 0.0000705 dollars as support.

Retail investors want a poller?

At the time of writing this report, the immediate market data and the permanent market hinted to the condemnation of a weak thunderbolt among merchants.

according to CoinalyzeOpen interest in the permanent market has increased by 12.25 % to $ 100.7 million in the past 24 hours alone. This is what indicated a rise in trading activity.

Source: Coinalyze

However, the financing rate -which reveals trading feelings based on whether it is positive or negative -is upset at -0.0011. This indicates that the majority of the market participants were opening short sites.

Meanwhile, the immediate market was witnessing more activity on the sale as well. In reality, Coinglass The data revealed that the traders unloaded a POL 1.2 million dollars in only 24 hours.

Source: Coinglass

If this selling pressure continues, the POL will risk a deeper correction, which may reconsider its basic support.