$POL D1 Bearish Idea.

The formerly known MATIC has yet to recover its glory days, and as I peak on its daily chart, it still isn't looking good for Polygon bulls based on the PA.

Fib measurement of the previous wide downtrend has the price getting rejected from the 38% Fib level, and another attempt to break upward has saw price rejection at the 24% Fib level, signifying that the bearish momentum is strong.

Notable rejection is also seen with that of the 25% key resistance trendline.

Currently, market is below the daily's EMAs, and if a fake out should happen again with another upward rejection, look for a breakdown on the bearish pivot at $0.34, that could likely send price plunging below the $0.3 price zone.