Cryptocurrencies

Polymath Price Prediction: What’s Next After A 65% Crash?

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Written By: Abdullah Sarwar

Nov 22, 2023, 20:00 GMT 20:00

Summary:

Polymath price has tanked 65% from its October highs. After a brief recovery it is still 58% down and the outlook is not looking very bullish.

A very old and dormant cryptocurrency known as Polymath (POLY) has recently gained a lot of hype due to increased volatility. However, after surging 284% in the second half of October, Polymath price has been in a tailspin since the start of November.

Currently, POLY crypto is down 44.89% on the monthly timeframe. Even after a brief recovery from the recent lows, the altcoin is still down 58% from its yearly highs of $0.444. At press time, it was trading at 0.186 on different exchanges.

This week’s intense sell-off in the cryptocurrencies in general and the altcoins in particular can be linked to the recent settlement of Binance with the US DOJ. As a part of the deal, the CEO and founder of the biggest cryptocurrency exchange had to step down which resulted in a market-wide panic.

Consequently, Polymath price prediction flipped bearish and retested the range lows, as mentioned in the following chart. However, if the bulls hold the range lows of $0.148, there could still be another rally toward the middle of the range.

POLY/USD Price Chart

This post was last modified on Nov 22, 2023, 20:01 GMT 20:01

Written By: Abdullah Sarwar

Abdullah Sarwar is a blockchain analyst and a cryptocurrency investor with more than 5 years of experience. He specializes in providing crypto price projections based on their fundamentals and price charts. He is also a successful day trader. He graduated in 2015 with a degree in electronic engineering. In his free time, he loves listening to electronic music and playing with trading bots.