Polygon bears in control – How traders can navigate the market – BitRss

• POL has slowly trended downward since December.
• The technical indicators and spot netflows signaled a bearish bias.

Polygon [POL], the Polygon Ecosystem Token, has struggled for bullish traction in recent weeks.

The volatility of Bitcoin [BTC] did not help — POL slid lower alongside BTC, but failed to register sizeable gains when BTC climbed higher.

In a post on X, popular crypto analyst Ali Martinez pointed out that the POL utility token was trading within a range since December. This range extended from $0.414 to $0.531.

AMBCrypto had an alternative finding on a higher timeframe, which had bearish implications.

Parallel channel, yes, but a more bearish kind