POL's performance over the past 24 hours is frankly just low-level repeated grinding with no clear pattern. The current price is hovering around $0.14, bouncing between $0.126 and $0.15, unable to break out of a direction.

However, trading volume hasn't collapsed. Spot trading can still process tens of millions of dollars daily, indicating that capital is indeed operating back and forth at this price level. But the problem is, volume alone is meaningless—what's really needed is a proper bullish candle. From a news perspective, Polygon network's ecosystem upgrade plans (like the Gigagas roadmap) sound good, but the market simply isn't buying it right now. It's mainly following the overall sentiment of the broader market, with a generally cautious attitude.

Looking at contract data, the long-short ratio slightly favors longs, but the momentum behind the push is far from sufficient. Liquidation amounts over the past day have only been in the range of tens of thousands to hundreds of thousands of dollars, and short-term longs actually have a higher liquidation ratio. This indicates that short positions chasing highs face considerable pressure and are easily trapped.

The current situation is: no strength to push up, can't push down either, just repeatedly oscillating in this range.

If you must participate, you can only take small positions to trade waves within the range, and you must set stop losses. If you really want to wait for a major move, you'll need to see when POL can make a strong breakthrough through key resistance levels, or whether the ecosystem can deliver truly significant positive news. Otherwise, just keep grinding along with the broader market.