😱 POL Plummets: 99% of Holders in Dire Straits! What’s Next? 📉

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  • In a cosmic blink, POL‘s liquidity vanished like a magician’s rabbit.
  • Charts predict POL might dive to the depths of February’s despair.

Polygon [POL], the once vibrant star of the crypto cosmos, has taken a nosedive that would make a lemming blush. Over the past month, it’s lost a third of its value, and the past week has only piled on the agony with a 4.53% plummet.

AMBCrypto’s analysis is as cheerful as a funeral dirge, suggesting the freefall is just getting started, as liquidity abandons ship faster than a rat.

Liquidity Exits Stage Left, Leaving 99% in the Red

In a mere day, POL’s chain netflow has gone from hero to zero, a sure sign that investors are heading for the hills. A negative chain netflow is the financial equivalent of a ghost town—eerily empty.

Over $13.2 million worth of POL has been sold, a number so large it’s like watching a parade of money marching out the door. This exodus spells doom and gloom for the asset’s future.

AMBCrypto has observed that this grand exodus has left nearly everyone holding the bag. As of now, a paltry 0.27% of POL holders are in the black, while the rest are staring down the barrel of financial woe.

The specter of further losses has holders quaking in their boots, ready to sell at the drop of a hat, which could send POL’s price into a tailspin.

The Road to $0.24: A Journey of Descent

The selling frenzy and liquidity drought could push POL into a downward spiral, a trajectory as clear as a skunk at a picnic.

Currently, POL is caught in a descending channel, like a yo-yo with a broken string.

If POL slips below the $0.278 support level, it could sink to the $0.243 liquidity zone, revisiting the lows of early February. Sad times indeed.

If the selling momentum is as strong as a gorilla on steroids, POL could break through the $0.243 floor, setting a new low that will be etched in crypto history.

Spot and Derivatives Markets: A Unison of Despair

The spot and derivatives markets are singing from the same hymn sheet, and it’s a lament for falling prices.

In the past day, the derivatives market has been a veritable fire sale, with Open Interest dropping like a rock and volume skyrocketing like a rocket.

When Open Interest dives and volume soars, it’s a sure sign that the market is in full-on panic mode, with traders hitting the eject button.

Exchange netflow is a mirror of this sentiment, showing that after a marathon of buying, the market has thrown in the towel and started selling en masse.

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2025-02-25 11:07