POL: Consolidation

POL recently moved sideways within our magenta-colored Target Zone (between $0.4711 and $0.3058). We expect a drop below the previous low within this range before the price should place the low of the magenta-colored wave (2). Following this, it should rise above the resistance at $0.60 with the turquoise wave 1. Therefore, traders can open long positions within this range, placing any stops 1% below the lower boundary. If the price falls significantly below the $0.31 mark (42% likely), our alternative scenario will come into play, which anticipates an even lower wave alt.(2) in green.