Polymesh Struggles Below $0.052 Amid Bearish Trend
Polymesh (POLYX), dubbed the 'blockchain purpose-built for real-world assets,' has been struggling below $0.052. The altcoin shed close to 4% in the past 24 hours, but its recent bounce gives reason to consider a bullish comeback.
A 3-day logarithmic chart shared by popular crypto analysis account World of Charts on X showed a possible path to recovery for POLYX. The sentiment around Bitcoin (BTC) and Ethereum (ETH) has been bullish after their strong gains in August, which could help the altcoin market sentiment and Polymesh.
The $0.10 support zone held strong from 2023 to mid-2025, but the latest bearish swing structure remains intact. The previous swing low at $0.0518 is now being tested as a resistance zone, and even if POLYX bulls drive the bounce above this area, the prevailing trend remains bearish.
The daily RSI showed some upward momentum for the token, while the OBV has been steadily climbing higher since August. This means buying volume has exceeded selling volume, giving hope to traders that a bullish trend shift is possible with aggressive high-volume buying and a break of the $0.0406 swing level.