Polygon (POL) Price Nears Key $0.23 Breakout Threshold Amid Strong On-Chain Activity

Polygon (POL) has attracted growing attention from traders as its price chart suggests a potential breakout following months of consolidation within a symmetrical triangle. According to analysis from Globe Of Crypto on X, POL has been forming a pattern with resistance near $0.22–$0.23 and support near $0.19–$0.20. The token is currently trading around $0.226, with repeated buying activity observed at the lower trendline, reinforcing the strength of the support level [1].

A successful break above $0.23 is seen as a key catalyst for a potential bullish move. If buyers can push the price past this resistance with strong volume, it could trigger a rally toward $0.35, with some analysts forecasting a further move to $0.45–$0.55, representing a 100–120% increase from current levels [1]. On the flip side, a breakdown below $0.19 could lead to a decline toward $0.16, with $0.10 acting as the next major support level. The market is now closely watching whether volume can provide the necessary momentum for a clean breakout [1].

Meanwhile, on-chain activity on the Polygon network continues to demonstrate resilience and efficiency. Renksi highlighted that the network processes over 3 million daily transactions, with average fees remaining under $0.002. This consistent level of throughput underscores the practical utility of the Polygon blockchain and reinforces its role as a high-performance layer-2 scaling solution [1].

The combination of a tightening price pattern and robust network activity positions POL at a critical juncture. A decisive move above $0.23–$0.25 could validate the bullish case and set the stage for a significant rally, while a failure to break out could result in prolonged consolidation. With both technical and on-chain fundamentals aligning, the next price direction for POL is expected to be a pivotal moment for the asset [1].

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[1] Polygon (POL) Price Teases 100% Breakout as On-Chain Activity Explodes – Here’s What Could Happen (https://captainaltcoin.com/polygon-pol-price-teases-100-breakout-as-on-chain-activity-explodes-heres-what-could-happen/)