Polygon’s POL Price Pumps, Analyst Eyes $0.50 in the ‘Coming Weeks’

It’s been a while since the Polygon price made it onto the list of top crypto gainers. But with today’s strong 7%

Polygon’s (POL) price today is up 7% as the crypto experiences a sudden surge in interest.

One analyst is now highlighting a new technical pattern that could see POL/’s value increase even further.

Polygon Price Analysis: Is 0.50 Coming?

As noted by the analyst, POL has just broken out of a bullish flag pattern. This technical indicator usually appears after a price increases rapidly in a short period. After the initial rally, the price action usually stalls out, and the magnitude of the move is typically smaller than the preceding rally.

The breakout occurred at around the $0.22 level, which, according to the analyst, could lead to a substantial move toward the $0.50 mark in the coming weeks.

The chart structure is clean, with a measured move targeting at least $0.41. This level is already within spitting distance of a 80% rally from the breakout. However, the analyst claims that momentum could carry the price to at least $0.50.

The crypto price has been contained within a downward channel for several months. This technical pattern, also known as a falling wedge or descending channel, occurs when the highs and lows of a security’s price movements are getting lower over time, creating a wedge shape. It usually indicates that the market is under pressure and slowly building toward a breakout.

The downtrend was finally broken in April when the price crossed above the top of the channel. Following this breakout, POL experienced a period of sideways movement, forming a smaller downward-sloping flag pattern. These flags are typically bullish as they represent a short pause in an uptrend.

The breakout on Wednesday morning confirms that buyers have regained control, at least for the time being.

However, it’s important to remain realistic. From the current price of around $0.23, reaching $0.50 would mean more than doubling in value. Such a significant move usually requires strong market-wide momentum.

Currently, the broader crypto market is displaying mixed trends, and we are transitioning into July, a month that is often slower for trading activity. Many traders take time off, volume lessens, and prices tend to move sideways unless there is a major news catalyst.

Therefore, even though the Polygon chart setup appears clean and technically sound, achieving the $0.50 target may require more than just a pattern breakout. It would likely necessitate fresh narratives, strong altcoin flows, or a wider market push.

Considering that Polygon is a well-known project with a solid ecosystem, if crypto sentiment shifts bullish again, POL could be one of the tokens to benefit early on.

For now, the $0.30 zone will be a key test as it acted as resistance earlier this year and could slow down the move before any bigger targets are in play.

In summary, today’s breakout is a positive sign as it shows that the downtrend is over and buyers are stepping back in. Whether it leads to $0.50 or not depends on what the market does next. But for the first time in a while, POL is showing real momentum, which is something traders haven’t seen in months.