- Polytrade’s $TRADE charts show bullish momentum with targets set between $6.60 and $11 using Fibonacci extensions.
- A locked token supply of 50% until 2027 ensures stability, reducing market pressure and boosting long-term investor confidence.
- Technical indicators like RSI and EMA confirm positive trends, signaling potential gains and increasing interest from traders and investors.
In the ever-evolving world of cryptocurrency, $TRADE, the native token of Polytrade, is drawing attention for its recent price action and promising technical setup. Renowned analyst CryptoBullet provided a detailed chart analysis on Twitter, highlighting a compelling opportunity for investors eyeing long-term stability and growth.
Source: CryptoBullet
Technical Data Reveals Uptrend
The weekly chart for $TRADE/USDT shows an upward channel formed since 2022. A recent retest of the lower channel boundary occurred near $0.50, aligning with the 21-week EMA, a key dynamic support level.
CryptoBullet highlighted this confluence on the platform and identified price targets at $6.60 and $11. The potential growth is supported by Fibonacci extension levels at 1.272 and 1.618, which are considered strong resistance points.
Additionally, the Relative Strength Index (RSI) bounced near its moving average, confirming improved momentum and suggesting further bullish price movement in the medium term.
Locked Supply Secures Stability
Polytrade reported that 50% of its token supply remains locked until December 2027. This decision reduces circulating supply and supports long-term price stability, making $TRADE more appealing to long-term investors.
This locked supply ensures reduced inflationary pressure on the token as demand grows. By committing to this supply strategy, Polytrade demonstrates dedication to sustainable growth while protecting investor interests against volatility.
Investors have shown confidence in this approach, with many interpreting the recent price dip as a significant buying opportunity.
Strong Community Engagement
The tweet garnered over 38,000 views, 187 likes, and 23 comments within just 24 hours. Many investors described Polytrade as “ready for long-term growth” and expressed optimism about the upcoming price targets.
The community anticipates that $TRADE will reach the first target of $6.60 before potentially breaking past $11. Investors see the ascending channel as a sign of consistent growth, supported by strong fundamentals.
As Polytrade’s locked supply strategy aligns with technical growth indicators, traders are closely watching whether $TRADE can meet its bullish targets soon.
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