Polygon (POL) Price Outlook: Momentum Builds Toward $0.220 Resistance Level
- Polygon (POL) extends gains as market confidence continues to strengthen.
- Broader sentiment improves while demand supports ongoing stability.
- Price holds near channel support, signaling a possible rebound.
- Indicators suggest weakening downside and emerging bullish momentum.
Polygon (POL) remains on a positive price trajectory as momentum strengthens across the market. Over the last 24 hours, POL has climbed 4.74%, while over the past week the token delivered a solid 9.4% surge, signaling rising demand and improving investor confidence across the crypto landscape.
At press time, Polygon is trading at $0.1103, maintaining stability after its latest upswing. The 24-hour trading volume stands at $78.11 million, down 38.12%, while the market capitalization holds near $1.16 billion, reflecting a 4.78% rise as sentiment strengthens across the broader market environment.
Also Read: Polygon (POL) Eyes $0.145 Breakout as Trading Volume Surges
Technical Structure And Key Price Levels
POL trades inside a clear descending channel on the daily chart, with the upper boundary acting as resistance and the lower band providing support. Price is near the bottom zone around $0.1059 after multiple declines from $0.30 to $0.14 and $0.12, confirming a dominant bearish market structure over the past several weeks and continuing its downward trend.
The first upside objective is the channel midline at around $0.114-$0.122, where the price has consistently been rejected. Another zone of strong resistance can be seen around $0.135-$0.140, where past climbs ended due to more intense selling pressure.
If the bulls close beyond the upper channel line, a possible reversal target could be $0.160, later $0.180-$0.220. Before that, the prevailing trend remains negative, and on a recovery, a bearish scenario can be expected below $0.095-$0.100, in the event of a breakdown in support.
Polygon Indicators Show Early Attempts to Stabilize
The current RSI level remains around 35.60, which is just above the oversold area. This has been due to strong bearish pressures seen for the past couple of weeks, but it has stabilized as the RSI touched the deeper oversold territory. The RSI moving average of 33.65 clearly shows that selling pressures remain dominant, but there are early indications of weakening sell momentum.
On the MACD, the blue MACD line is placed around -0.00927, ever so slightly below the signal line placed at -0.00948, while the histogram has just ticked positive to around the value of 0.00021. This is a first attempt at a positive move, although the overall configuration is weak and a stronger positive bias is required.
Also Read: Polygon’s (POL) Price Scepticism Under Pressure: $0.153995 Forecast
Ayrıca Şunları da Beğenebilirsiniz
From random auctions to forward contracts, how does ETHGas transform block space into a priced resource?
Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse?
