Polygon Price Prediction: Is POL’s Bearish Trend Finally Over?
Key Insights:
- Polygon price prediction turns bullish for the coming days following a shift in overall market sentiment.
- With this change in sentiment, Polygon (POL) has broken out of its bullish pattern and is poised for a massive rally.
- Data from IntoTheBlock reveals that POL could face strong resistance at the $0.237 level.
Polygon price prediction appears bullish and points to a potential upside rally as the token recently broke out of a bullish pattern.
With the current market sentiment turning positive, traders are showing strong interest in POL and are closely monitoring on-chain data and key resistance levels.
Market Sentiment & Current Price Momentum
At press time, POL was trading near $0.23 and had recorded a price surge of over 4.65% in the past 24 hours. Meanwhile, during the same period, its trading volume jumped by 10%, indicating heightened participation from traders and investors compared to the previous day.
The potential reason behind the surge in trading volume is the recent bullish breakout and shift in market sentiment. This increase in both volume and price reflects strong bullish momentum in POL.
According to expert technical analysis, POL appears to be turning bullish, having broken out of a bullish pattern and opened the path for a massive upside rally.
On May 8, 2025, following a shift in market sentiment, POL successfully broke out of a bullish flag-and-pole price action pattern observed on the four-hour timeframe.
Polygon Price Prediction
Following the breakout, the Polygon price prediction turns bullish. Based on recent price action and historical patterns, if the POL price holds above the $0.2275 level, it could soar by 50%.
Amid the potential rally, the $0.24 and $ 0.30 are the major resistance levels that could pose hurdles for POL.
Besides the notable surge in POL’s price, the asset’s Relative Strength Index (RSI) stands at 59, indicating that it is below the overbought territory and has enough strength to continue its upside momentum in the coming days.
The Polygon price prediction remains bullish only if it stays above the $0.2275 level; otherwise, it could either move sideways or experience downside momentum.
Polygon Major Resistance Level
In addition to the price action, data from the on-chain analytics tool IntoTheBlock reveals that the POL price could face strong resistance at $0.2369, as 948 wallets have purchased 33.96 million POL tokens at this level.
This level aligns with the resistance shown on the four-hour chart, which appears near the round figure of $0.24. As a significant number of POL holders are currently at a loss, they may offload their holdings at breakeven as the price approaches that level, potentially causing selling pressure.
If this resistance is broken, there is a strong possibility that POL could experience significant upside momentum.
Traders Strongly Believe in the Long Positions
However, traders appear to be aligning with the current market sentiment, as they are strongly betting on the bullish side. The POL Long/Short ratio currently stands at 1.07, indicating strong bullish sentiment among traders. Meanwhile, the asset’s open interest (OI) has surged by 11% over the past 24 hours.
Combining these metrics, it appears that traders’ bets on long positions have significantly increased.
At press time, traders are over-leveraged at $0.2133 on the lower side and $0.2358 on the upper side (the same resistance level).
At these levels, based on market sentiment, traders have built $1.85 Million worth of long positions and $518K worth of short positions. This data indicated that bulls were dominating the market.
When combining all these metrics with the technical analysis, it appears that the $0.2358 to $0.24 range is a strong resistance level that could pose a hurdle to POL’s upside momentum.
However, if this level is breached and a four-hour candle closes above it, a massive rally becomes highly possible.
