Polymath has long been in a price channel, unable to break out and give any meaningful returns to the coin holders. However, now a good breakout could be on the cards if it successfully manages to break out from the channel.
In this article, we will look at polymath price prediction, weekly price analysis along with the news roundup.
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Polymath Price Prediction
Poly’s price saw a remarkable surge, reaching $0.255701 and tested the resistance area. However, if it fails to break out then the fall could also be big.
Let’s have a look at the chart:
The price is consolidating within the rectangle channel. A breakout of this channel would serve as bullish confirmation. Keep an eye on it.
Weekly Price Analysis
The past week has been a rollercoaster for Poly investors. The token’s value traded between the levels of $0.194636 and peaking at $0.255701.
This has been the story of this particular coin for many weeks. The coin has failed to breakout after forming crypto chart patterns.
News Roundup
Recent news has had a substantial impact on Poly’s price. A notable event was the Poly Network attacker issuing billions in SHIB, BNB, and BUSD, which, while deemed ‘worthless’ due to low liquidity and security measures, still shook the market.
Additionally, the anticipation of the upcoming Decentralizing the Future event in Austin, Texas, may have contributed to the positive market sentiment.
Conclusion
The current analysis of Poly’s price reveals a token that is sensitive to market dynamics and external events. Investors should remain cautious and conduct thorough research before making any investment decisions.
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