POL Token Draws Attention After Slipping into a Modest Correction

Polygon’s token, POL, has drawn attention after slipping into a modest correction, which followed what many believed to be a crucial breakout past $0.20. While this recent downturn might spark concern among traders, analysts aren’t raising the alarm bells yet.

Instead, they suggest it is a healthy pause, setting the stage for a stronger rise soon. On the broader timeline, Polygon’s pattern appears bleak, having been bouncing off the lower line of a long-standing descending channel since July 2024.

However, optimism has been building around its potential to finally break free from this structure. Crypto expert MasterAnanda believes Polygon is now ready for a sharp rally, with eyes set firmly on the $1 barrier.

The analyst highlights a bullish divergence on the 3-day chart, calling it one of the clearest signs of a reversal. According to his analysis, POL touched a new low on April 7, 2025, but the Relative Strength Index (RSI) had bottomed much earlier in July 2024 and has been climbing since.

This mismatch is classic, hinting that downward momentum is fading fast. Usually, the RSI should follow price lows, but in this case, it's leading the way, suggesting a shift in market strength.

Volume Has Seen a Notable Rise

Volume has also seen a notable rise, kicking off in mid-2024 and continuing to climb, especially in recent months, putting more hopes on a rebound. The recent uptrend across the broader crypto market is helping push this sentiment further.

MasterAnanda himself pointed out that the market is flashing major signs of recovery. “The market is giving us one last chance to buy all we want before massive growth,” he stated, hinting that a breakout could happen any time now.

According to his analysis, between April 7 and April 22, Polygon rose from its low to reach $0.267, only to bump into a ceiling. This led to two red candles, signaling a measured dip, likely retesting the channel’s upper limit. Often, these retests set the stage for significant breakouts, which might explain why expectations for a steady march toward $1 are rising.

At present, the RSI sits around the 46. If the bullish setup holds, MasterAnanda predicts it could leap swiftly above 70, reflecting intense buying momentum.

Polygon’s trading price now hovers near $0.2407, a slight 0.42% gain in the last day, showing some early signs of strength.

Polygon’s Key Targets Set As Momentum Builds

The technical outlook includes clear checkpoints before hitting the $1.15 mark, which MasterAnanda set as the main goal. Based on Fibonacci tools, $0.461 and $0.534 are expected to serve as resting points where the price might pause or briefly pull back before moving higher.

Another voice, World of Charts, highlighted that on the 3-hour chart, POL has shaped a Bull Flag pattern, which is usually a continuation indicator.

“Successful Breakout can lead another bullish rally towards 0.30$,” he added, reinforcing the idea that short-term gains may come sooner than expected.

Whales_Crypto_Trading observed POL breaking above the upper boundary of a broadening wedge on the 1-day chart. His projections suggest a potential 2x jump, aiming for $0.52 in the mid-term, providing another layer of optimism.