The cryptocurrency POL has experienced a significant decrease in price, falling by 18.90% in the past week and an additional 1.15% in the last 24 hours. The asset is currently trading within a descending channel pattern and is near support levels of $0.4731 and $0.4583. However, there are no signs of a recovery, indicating that bearish sentiment is dominant. The increase in POL's exchange reserves suggests heightened sell pressure and potential further price declines. The number of active addresses has decreased, indicating reduced investor confidence and participation. Trading activity has also declined, with a sharp reduction in POL transaction volume. Open interest in POL has dropped, leading to the closure of positions in response to the downtrend. Overall, unless a strong reversal signal emerges, POL is expected to continue its bearish trajectory in the short term.



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