Polygon has been trading in this channel since June of last year. It's near the bottom of the trend line, which happens to coincide with the 200MA on the daily chart. With all the bullish sentiment around Polygon, and large projects moving their ecosystems onto the chain, I'd expect to see a nice bounce towards the middle of the trading channel; followed by an opportunity to exit with a ~40% gain from current prices in the highlighted box.
Out at or above $1.50 sometime in April, ez gg - NFA.
Out at or above $1.50 sometime in April, ez gg - NFA.
Trade closed: stop reached:
Fallout from trading channel seems legit, original target not going to happen