POLYX BTC Polymesh Technical Analysis

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By Frans van Elst

Polymesh logo In this Polymesh technical analysis, we will examine the current price action, trading volume, key levels and indicators for POLYX-BTC. Polymesh (POLYX) is a decentralized platform that utilizes blockchain technology to provide secure and transparent financial services. With its innovative multi-chain architecture, Polymesh enables interoperability between different blockchain networks, allowing for seamless interactions between users and applications. By leveraging smart contracts and decentralized governance, Polymesh empowers users with greater control over their digital assets and data.

Polymesh Price Overview:

As of May 18, 2024, Polymesh is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for POLYX-BTC:

Embrace a bullish sentiment for Polymesh (POLYXBTC) at 6.80e-06 BTC with technical analysis highlighting strong support and positive indicators.

Metric Value
Open (O) 1e-05
High (H) 1e-05
Low (L) 1e-05
Close (C) 1e-05
Volume (C) 396,748.70
  • Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
  • High (H): Polymesh reached a daily high of around 1e-05 BTC.
  • Low (L): The daily low for POLYX-BTC was approximately 1e-05 BTC.
  • Close (C): At the time of analysis, Polymesh is trading near its daily close of 1e-05 BTC.
Metric Value
1D Change (%) 6.75%
3D Change (%) 14.48%
7D Change (%) 12.03%
30D Change (%) -3.95%
90D Change (%) 88.89%
YTD Change (%) 51.45%

Over the past three days, POLYXBTC has risen by approximately 14.48%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 12.03%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with POLYXBTC maintaining a downward trend of approximately -3.95%, despite intermittent fluctuations. Examining the last 90 days, POLYXBTC has witnessed substantial rise of approximately 88.89%, reflecting strong long-term confidence. Year-to-date, POLYXBTC has steadily appreciated by around 51.45%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Polymesh Live Chart:

You can access a live price chart for POLYX-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.62274.
  • Momentum score is 0.0625.

POLYX BTC Technical Analysis

Polymesh Trading Volume:

The trading volume for Polymesh (POLYX) over the past 24 hours has been insignificant, with approximately 396,748.70 BTC traded against POLYX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): POLYX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Polymesh is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for POLYX-BTC is currently in the neutral zone, around 54.37748. This suggests that Polymesh is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Polymesh (POLYX-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Embrace a bullish sentiment for Polymesh (POLYXBTC) at 6.80e-06 BTC with technical analysis highlighting strong support and positive indicators.

Missing our detailed breakdown on POLYX USDT Polymesh Technical Analysis would be a lost opportunity if you found value in this post.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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