POL 8H – Testing Support Above TrendlinePOL / TetherUSBINANCE:POLUSDTBKVIPPolygon is trading around 0.08761 on the 8H timeframe, pressing the horizontal support near 0.0875 again after a slide from 0.0940, with the ascending trendline sitting just below near 0.0842. The structure here began with the July 30 low near 0.0700, where the rising trendline originates. POL built a base between 0.0725 and 0.0820 through early August, then broke out with a vertical leg on August 21 that carried price to the high near 0.1280 on August 26. A pullback to 0.0860 followed on September 1, then a range between 0.0900 and 0.1000 before the second leg tagged 0.1255 on September 28. Since then the decline has been persistent, printing lower highs near 0.1085, 0.0976, and 0.0965 while the 0.0875 level has been tested on October 18, October 24, and October 30. That last flush wicked down to 0.0830 and tagged the trendline before being bought back. Price is currently pressing 0.0875 for another test with candles tightening, so a decisive move is approaching. Key Levels To Watch: → 0.1280 August 26 high, breakout extension top → 0.1255 September 28 high, double top → 0.1085 October 11 lower high, major resistance → 0.0976 October 20 lower high, first major target on a bounce → 0.0940 Range top, first level to reclaim → 0.08761 Current price, pressing horizontal support → 0.0860 September 1 low, first support if it fails → 0.0842 Rising trendline, current level → 0.0830 October 30 wick low, key support → 0.0740 August 20 wick low, deeper support → 0.0700 Trendline origin, July 30 low A hold of 0.0875 and a reclaim of 0.0940 would show buyers defending the stacked support and set up a rotation toward 0.0976, with a break above it opening the path back toward the 0.1085 lower high. Losing 0.0875 would bring the trendline back into focus, and a loss of the 0.0830 wick low would be the first real break of structure since July, exposing 0.0740 as the next support with the 0.0700 origin as the deeper level if the selloff extends. Hold 0.0875 and the trendline and POL builds toward the top of the range. Lose 0.0830 and this consolidation breaks down toward lower support. Bias stays neutral given the series of lower highs, with the repeated defense of this support and the trendline just below keeping the structure intact, but 0.0940 needs to be reclaimed to confirm the next leg higher.