Polygon created a higher low in June and accelerated its rally, breaking out from a diagonal resistance.
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Today, the POL price has nearly reached the $0.30 horizontal area, a critical level that previously provided support at the end of 2024 and the start of 2025.
If POL breaks out, it will confirm that the long-term correction is over and the price has started a bullish trend reversal.
Momentum indicators give promising signs. The Relative Strength Index (RSI) crossed 50, and the Moving Average Convergence/Divergence (MACD) is nearly positive.
Since the indicators trend upward alongside the price, they strengthen the validity of the upward movement and make it more likely that POL will break out.
What’s Next for POL?
Polygon’s daily technical analysis raises more questions than answers.
POL broke out from a symmetrical triangle pattern yesterday, and the price is trying to confirm it as support today.
A retest is common after a breakout and usually continues the upward movement to new highs.
Momentum indicators support the breakout. The RSI and MACD broke out from diagonal resistances and are trending up.
Because of the triangle’s presence, the most likely count suggests POL finished wave B in an A-B-C structure (green).
If wave C has the same length as wave A, POL will reach a high of $0.36 before correcting.
However, it is worth mentioning that the POL price action and wave count are both uncertain, and another pattern altogether could form if the rally does not materialize.
POL vs BTC and ETH
Since Bitcoin’s dominance is falling, most altcoins have outperformed Bitcoin in the past few months.
POL is no exception, since it broke out from a diagonal resistance and an ascending parallel channel, both signs that the trend is bullish.
While the POL price failed to clear the 265 satoshi resistance on the first try (red icon), momentum indicators do not show any weakness.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
