Polygon (POL) Price Nears $0.65 Resistance After Breaking Trendline

Polygon (POL) has regained attention from traders and analysts following a potential breakout from a prolonged downtrend, with the price nearing a key resistance level at $0.65. For several months, the token had been trading within a defined range between $0.48 and $0.65, a period marked by consolidation and repeated tests of the upper boundary without a confirmed breakout. However, recent price action suggests that buyers have been increasingly active, supporting the lower end of the range and hinting at a potential trend reversal [1].

Crypto analyst Crypto Rand highlighted the development on X, noting that POL has managed to break above a descending trendline that had been in place since March 2024. This technical shift, combined with the price holding above both the trendline and a horizontal resistance at $0.60, signals an improvement in market structure. The accumulation zone between $0.48 and $0.65 has historically served as a solid support level, and its continued strength suggests that traders remain bullish on Polygon’s long-term potential [1].

According to the analysis, if the price can confirm a breakout above $0.65 with strong volume, it may open the door for a move toward $0.85. A more significant and sustained rally, as suggested by Crypto Rand, could potentially push the price toward $1.10, a level that has previously acted as structural resistance on higher timeframes. The analyst emphasized that the current setup, including higher lows and the accumulation phase, suggests Polygon is “absolutely ready to smash the next targets.” This view has gained traction among traders, who are now closely watching for signs of increased volume and buying pressure [1].

In addition to the technical outlook, Crypto Rand pointed to broader factors that could support Polygon’s price movement. These include the network’s improved speed and its potential role in stablecoin infrastructure as part of the Polygon 2.0 upgrade. These developments, combined with renewed interest in the network’s long-term narrative, may contribute to increased attention on the $0.65 breakout level in the coming sessions [1].

Traders remain cautiously optimistic, with many awaiting confirmation of the breakout and a sustained move above key resistance levels. The market is closely monitoring whether Polygon can transition from a consolidating pattern into a more bullish phase, which would mark a significant shift in the token’s short-term trajectory.

Source: [1] Expert Predicts Polygon (POL) Price Could Be Set for 2x Rally If It Breaks This Key Resistance (https://coinmarketcap.com/community/articles/6894c090ee5c4d37240e3c5d/)