- Polygon’s POL forms bullish patterns despite recent correction, signaling potential for a strong upward breakout.
- Analysts target $1 and beyond as RSI divergence and volume growth hint at fading bearish pressure.
- Chart signals like the Bull Flag and wedge breakout support short- and mid-term rallies to $0.30 and $0.52.
Polygon’s native token, POL, is attracting renewed attention from traders and analysts following a brief correction that came shortly after a key breakout past the $0.20 level.
The price dip, however, was worrying some investors, but seasoned analysts regard the move as just a strategic pause in what might go on to be a bigger upward rally. Interpreting the recent pullback from a local high of $0.267 to the current price of $0.2378 as a healthy retest of resistance, the recent pullback can be viewed as bullish.
Technical experts note that this was one of the bull set ups that is frequented by explosive moves. The minor setback, however, has not dampened the strength shown by POL and it has managed a 0.42% gain over the last 24 hours.
POL Setup Signals Imminent Price Surge
Renowned crypto analyst MasterAnanda explained: “The market is giving us the last chance to buy all we want before very significant (growth).” A Bitcoin bullish divergence on the 3 day chart is also pointed out by him as a big indicator. On April 7, POL reached a new low but the Relative Strength Index (RSI) bottomed for bearish momentum already in July 2024 and it has been on the rise since then.
This outlook seems supported by volume trends. The rise in the broader crypto market has also signaled growing investor interest in increased trading activity. According to MasterAnanda, they’ve achieved a perfect setup for POL, which is bound to catapult it to a hefty climb as $1 marks a key psychological and technical target.
In the short term, key Fibonacci marks, both $0.461 and $0.534, will act as short term build points and the drive to the upside could not be ruled out. The RSI is expected to close above the 70 level, which historically is a very strong buy area, if current momentum carries on.
Polygon Rebounds from Descending Channel Base
Consistent with this view, chartist World of Charts identified a Bull Flag pattern on the 3 hour chart. He also pointed out the potential of the short term upside to $0.30, “Successful breakout can trigger Another bullish rally”.
On the daily chart the breakout above the broadening wedge was noted by analyst Whales_Crypto_Trading. Surprisingly POL is currently doubling in value, moving towards $0.52 by mid-term, according to his taken projection which is bringing a wave of optimism in technical communities.
Polygon’s narrative also breeds a more long-term appreciable structure that is more than bearish. Recently, the asset has bounced off the bottom border of a descending channel that defined price action for months, often being an important reversal point in such patterns.
Investors are watching closely as firming technical outlook is combined with sentiment boosted by wider market gains. If a breakout above $0.30 is confirmed by POL’s bullish structure, the rate of advancement to $1 and further may widen significantly.
