POLYX Price Set for a Bullish Rally with Precise Entry and Target Levels

POLYX price action shows strong potential for a rise with a target of $0.3840

The token has tested the discount zone and is likely to climb toward buy-side liquidity

Entry at $0.2930 offers traders a good setup with clear risk management and upside gains

The POLYX/USDT daily chart reveals an intriguing narrative for traders eyeing this cryptocurrency. According to a detailed analysis by Crypto Patel, the token has entered a decisive trading range with promising bullish behavior

Source: X

Currently priced at $0.3038 (as of January 8, 2025), POLYX has tested the lower order block located in the discount zone, signaling a potential trajectory toward higher price levels. This setup highlights an imminent move toward buy-side liquidity, with an anticipated interaction at the upper order block formed within the premium zone

The Discount Zone: Where Value Meets Demand

The price has revisited the discount zone, which lies below the 0.5 Fibonacci retracement level of $0.3136. This zone ranges between $0.1924 (Fibonacci 1) and $0.3136 (Fibonacci 0.5). The interaction with the order block in this zone strongly suggests accumulation, as institutional players often favor discounted prices for long entries. This setup could catalyze a bullish wave, driving the token toward its next major hurdle

Targeting the Premium Zone and Buy-Side Liquidity

Above the $0.3136 threshold lies the premium zone, capped by the Fibonacci 0 level at $0.4347. This range harbors a key order block where POLYX is expected to consolidate or retrace before resuming its ascent. Crypto Patel’s analysis anticipates the price tapping into this zone, paving the way for potential long positions

The outlined target stands at $0.3840, offering a promising upside from current levels. For risk management, a stop-loss at $0.2467 ensures traders can navigate the market's inherent volatility with calculated precision

Entry and Risk-Reward Dynamics

Crypto Patel recommends entering long positions at $0.2930, slightly below the current trading price. This strategic entry allows for capitalizing on minor retracements before the anticipated rally. With a target of $0.3840, traders are looking at a reward ratio that substantially outweighs the risk, underpinned by the defined stop-loss level at $0.2467