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

Trading volume hasn't contracted though. Spot trading still sees tens of millions of dollars in daily volume, indicating there is indeed capital operating back and forth at this level. The problem is, volume alone is meaningless. What we really need is a solid, impressive bullish candle. From a news perspective, Polygon network ecosystem upgrade plans (like the GigaGas roadmap type initiatives) sound good, but the market simply isn't buying it right now. It's mainly following the overall market sentiment, with a generally cautious attitude across the board.

Looking at futures data, the long-to-short ratio is slightly favoring longs, but the pulling power is far from impressive. Liquidation amounts over the past day are just in the range of tens to hundreds of thousands of dollars. Actually, short-term long liquidations account for a higher proportion, suggesting significant pressure on chasing-highs shorts that can easily get trapped.

This is the current situation: no strength to push up, can't fall down either, just consolidating back and forth.

If you must participate, you can only use small positions to trade the waves within the range, and you must set stop losses. If you're really waiting for a major move, it depends on when POL can break through key resistance levels decisively, or whether the ecosystem can deliver truly significant positive catalysts. Otherwise, just keep grinding along with the broader market.