POL is currently trading at a key weekly resistance zone after a strong bounce from the lows.
On the higher timeframe, price has been respecting clear support & resistance flips. Previous support levels have turned into resistance, and price is now testing one of those key areas again.
Key levels to watch:
Weekly Resistance: ~0.17 – 0.18
Weekly Support: ~0.12 – 0.13
For bullish continuation, price must flip this resistance into support. Without a clean S/R flip and weekly close above this level, this move remains a relief bounce inside a broader downtrend.
Rejection here would keep the structure bearish, with a high chance of price revisiting lower support zones.
Acceptance and hold above resistance would open the door for a move toward the next major resistance around 0.30.
Patience is key on the weekly timeframe — structure confirmation comes first.
👉 Do you expect a clean weekly S/R flip, or will this level act as resistance again?
Like & comment if this helps your bias 👇
MrC
On the higher timeframe, price has been respecting clear support & resistance flips. Previous support levels have turned into resistance, and price is now testing one of those key areas again.
Key levels to watch:
Weekly Resistance: ~0.17 – 0.18
Weekly Support: ~0.12 – 0.13
For bullish continuation, price must flip this resistance into support. Without a clean S/R flip and weekly close above this level, this move remains a relief bounce inside a broader downtrend.
Rejection here would keep the structure bearish, with a high chance of price revisiting lower support zones.
Acceptance and hold above resistance would open the door for a move toward the next major resistance around 0.30.
Patience is key on the weekly timeframe — structure confirmation comes first.
👉 Do you expect a clean weekly S/R flip, or will this level act as resistance again?
Like & comment if this helps your bias 👇
MrC
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.