POLYX crypto struggles below $0.052: Long-term bear market continuation ahead?

AMBCrypto2026/09/10 10:03

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Polymesh [POLYX], dubbed the “blockchain purpose-built for real-world assets,” has shed close to 4% in the past 24 hours. The altcoin was up 16.6% over the past 30 days, and this bounce has given reason to consider a bullish comeback.

The sentiment around Bitcoin [BTC] and Ethereum [ETH] was bullish after the strong gains the two crypto leaders made in August. If BTC’s retest of the $77k support zone in recent days turns out only to be a retracement, it could help the altcoin market sentiment and also Polymesh.

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Assessing the POLYX crypto comeback chances

POLYX crypto struggles below $0.052: Long-term bear market continuation ahead? image 0

The $0.10 support zone was one that held strong from 2023 to mid-2025. Even before the onset of the latest bear market in October 2025, the POLYX crypto weekly swing structure had been bearish.

This downtrend was still in place. The latest swing high at $0.0665 (orange), set in May, needs to be breached to flip the structure bullishly.

Meanwhile, the previous swing low at $0.0518 (green) was now being tested as a resistance zone. Even if POLYX bulls drive the bounce above this area, the prevailing trend remains bearish.

Traders’ call to action – OBV offers some bullish hope

POLYX crypto struggles below $0.052: Long-term bear market continuation ahead? image 1

The 1-day timeframe also showed a bearish swing structure for POLYX crypto. The swing points of this structure were at $0.0406 and $0.0276. While the altcoin is closer to the recent swing high, the $0.037 supply zone has not been convincingly breached yet.

Meanwhile, the technical indicators gave some bullish signals. The daily RSI showed a reading of 57 to signal some upward momentum for the token. More encouragingly, the OBV has been steadily climbing higher since August, even though the price has kept descending.

This means buying volume has overall exceeded the selling volume. The buyers have not been aggressive yet, but if they choose to be, it would boost the chances of a bullish trend shift enormously.

Final Summary

POLYX crypto is down 95% from its all-time high at $0.75 in 2024, and the long-term trend remains bearish.
The 1-day chart shows there is potential for a trend reversal. It requires aggressive, high-volume buying and a break of the $0.0406 swing level.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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