The Polygon Token (POL), previously known as MATIC, has seen a significant price surge to $0.26 recently. This has sparked optimism among the investors. This rally comes amid signs of reversal in Bitcoin and Ethereum. However, altcoins like POL are gaining momentum. The recent breakout above a key resistance level at $0.22 was boosted by Polygon Labs’ launch of the Agglayer Breakout Program. This initiative rewards token staking through airdrops, boosting on-chain activity and investor interest. Following a dip to a 30-day low of $0.2433, POL rebounded strongly, supported by increased trading volume and ecosystem developments. The program’s rewards, including token airdrops from projects like Privado ID and Miden, have further driven demand. With the market cap crossing $2 billion again, POL’s bullish momentum suggests a potential shift in sentiment.
POL Price Analysis of the Last 24 Hours
Polygon started trading yesterday at a price of $0.2470. In the first 15 minutes, the POL price fell to $0.2435. At this point, a trading range formed as Polygon looked to resist further downtrend. An upward trend was seen leading Polygon out of this trading range, but it turned out to be a fake breakout. Further downtrend ensued as Polygon fell to $0.2387 by 3:00 UTC. With the coin almost oversold according to the RSI, a strong trend reversal was observed as the POL price started scaling the charts rapidly.
Chart 1: published on TradingView, April 26, 2025
This uptrend led Polygon to $0.2480 by 6:00 UTC. At this point, the coin also ventured into the overbought region. A heavy downtrend was expected, but Polygon managed to stabilize above the $0.2460 mark. From this point, another uptrend began, taking Polygon to $0.2520 by 9:00 AM. However, bearish pressure had been building up to this point, and a massive death cross formed on the MACD indicator. A downward channel ensued as Polygon consistently touched lower highs and lower lows. This channel led the Polygon price to $0.2406.
At 13:40, another golden led to a confident uptrend up to $0.2500. But the price soon faced correction at $0.2435 at 16:25. From this point, a gradual upward channel formed as the POL price consistently touched higher highs and higher lows. This upward channel led Polygon to $0.2492 by midnight.
Polygon Price Action Today
Polygon continued the uptrend from yesterday and rose to $0.2539 by 1:30 UTC. Around the same time, a wide death cross formed on the MACD, leading to a downtrend to $0.2465 by 6:00 AM. Polygon soon tried to reverse some of the losses, going to $0.2520, but the bears continued to dictate the price movement. The price dipped again to $0.2441. The coin tried to up the ante and gain quickly, but plateaued around $0.2480. Since then, it has slumped, and as of the latest update, it is attempting a trend reversal. The Polygon price stands at $0.2470.
POL Price Prediction: What Do the Technical Indicators Suggest?
A bearish POL trend seems to be the next play here. The current bullish trend will soon see a reversal. If Polygon can hold on to $0.2440, then it can attempt to scale the charts. However, if $0.2440 fails to hold the bearish POL trend, we may be in to see a slump to $0.2400 support. If that happens, most likely Polygon will relinquish that support level to dip lower.
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