Polygon’s POL token is doing effectively right this moment. The POL worth pumped 8% which implies it’s now buying and selling round $0.21; highest stage this month.
Analyst ‘World of Charts’ weighed in on the scenario round POL and defined the place may the worth be headed subsequent.
POL has been trapped in a downward channel since November 2024, with a transparent sample of decrease highs and decrease lows forming a descending parallel channel. This bearish sample has dominated worth motion for months, with the higher trendline repeatedly rejecting worth makes an attempt to interrupt larger, whereas the decrease trendline has served as a ground throughout main sell-offs.
Nevertheless, current worth motion reveals POL has damaged above the midline of this descending channel, signaling potential bullish momentum. This carries massive weight because it represents the primary severe problem to the prevailing downtrend because it started final yr.
Polygon Price: Key Resistance Zone Checks
The $0.20-$0.21 space has been a cussed horizontal resistance zone for POL over the previous month. The worth has tried to interrupt by way of this stage a number of instances however confronted rejection, resulting in consolidation slightly below this threshold. This repeated testing has established the zone as a crucial worth stage.
What makes right this moment’s worth motion significantly fascinating is that POL is now testing this key resistance zone once more, however this time with elevated momentum after breaking above the channel’s midline. If POL can efficiently convert this resistance into assist, it could affirm a big shift in market sentiment.
| Stage | Significance |
|---|---|
| $0.20–$0.21 | Main resistance zone being examined now |
| $0.25 | Mid-channel resistance or subsequent goal after breakout |
| $0.35 | Potential goal in bullish continuation |
| $0.18 | Help from current larger low |
| $0.15–$0.16 | Earlier backside zone, robust assist ground |
In response to World of Charts’ evaluation, a profitable breakout above this horizontal zone may set off a considerable rally. The analyst tasks that after a possible short-term pullback to retest the $0.20 zone, POL may proceed its upward motion towards the $0.25 space, which aligns with earlier structural ranges contained in the channel.
If bullish momentum sustains, the analyst sees a pathway for POL to increase its rally towards $0.35 within the coming days. This goal coincides with prior structural ranges and Fibonacci projection targets from the present setup.
The rising image for POL suggests the token could also be within the early levels of a bullish reversal after months of decline. With the break of the falling channel and present retest of horizontal resistance, the POL worth seems to be organising for potential upside if the present momentum continues.
Learn additionally: 2 Main Reasons Why Kaspa (KAS) Price Is Pumping
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