Is a Polygon (POL) surge imminent ? Following recent cryptocurrency market turbulence, Ethereum (ETH) bounced back impressively, reaching $3,675. Amidst this, several altcoins, including Polygon (POL),...
Following recent turbulence in the cryptocurrency market, Ethereum (ETH) has rebounded impressively, reaching $3,675. Against this backdrop, several altcoins, including Polygon (POL), have begun a notable progression. This recovery raises the question: is Polygon (POL) about to experience a significant rally ?
The technical analysis of POL shows a bearish ABCD harmonic pattern on the daily chart. Despite its name, this configuration can signal a strong bullish CD leg before reaching the Potential Reversal Zone (PRZ). The movement began with a rise from A to nearly $0.1633, followed by a retracement to C around $0.1898. Since then, POL has bounced back and is trading around $0.2161, indicating that the CD leg is currently in progress.
Point D, defined by the Fibonacci extension 1.36 of the BC leg, is situated around $0.2896, representing a key target for investors. POL is also approaching the 100-day moving average at $0.2173. A decisive breakthrough could validate the harmonic pattern and attract buying interest, paving the way to the PRZ at $0.2896, representing an upside potential of more than 33%.
In summary, Polygon (POL) shows promising technical signs with significant upside potential if the price breaks through the 100-day moving average around $0.2173, opening the path for a move toward $0.29. However, maintaining support at approximately $0.1898 remains crucial to avoid increased selling pressure. Savvy investors will closely monitor these key levels in a market that remains volatile yet full of opportunities.
Want to invest in POL through Bitget ? Here are the steps to make your purchase quickly and securely :
Before diving in, analyze market trends to invest with a strategy tailored to your goals.
Passionate about cryptocurrencies since 2019, I cover the latest news through clear and accessible articles. My goal is to make crypto understandable for everyone, with reliable and well-researched content.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
