Polygon (POL) Set for 2x Surge If This Resistance Breaks

2025-4-24 15:35

Polygon (POL) is at an important point on the chart right now. The price is testing a key resistance line, which could determine its next direction. According to the analyst World Of Charts, a breakout could lead to a strong midterm rally, possibly doubling the current price.

At the time of writing, the price of POL is around $0.2235. Since December 2024, it has been moving inside a downward trend. This trend formed a channel, with prices making lower highs and lower lows over time. The top of this channel is the main resistance level, and right now, POL is pushing up against it.

This is a critical moment. If the price breaks above this trendline, it could be the first sign that the downtrend is ending. But so far, the breakout hasn’t happened yet. The price is still testing this level, and traders are waiting for a clear move before calling it a reversal.

Buyers Built a Strong Base First

Before reaching this resistance, POL traded sideways between $0.19 and $0.21. It stayed in that range for a few weeks, which helped build a base. This kind of movement is often called consolidation or accumulation. It means that sellers were losing power while buyers started stepping in.

World Of Charts pointed out that this zone could now support a bigger move. If the price breaks out, that base may serve as the launch point for a new uptrend.

What Happens If the Price Breaks Out?

If POL manages to break above the resistance line with strong volume, the next target could be between $0.36 and $0.38. That would be a big move, more than double the price from its low in April, which was around $0.17.

World Of Charts expects that the price may pull back slightly after breaking out, and then continue higher. This is a common pattern. A small pullback after a breakout often helps confirm the new trend before it picks up again.

Read Also: Multiple Metrics Hint at Major Kaspa Rally — Just How High Can KAS Go?

In a tweet, World Of Charts said POL is testing the descending trendline and they expect a breakout, with a potential 2x move in the midterm. It’s important to understand that this is an expectation, not a guarantee. The breakout hasn’t happened yet.

Still, the setup looks strong. If the price does move above this resistance level, it could lead to a sharp rally. Until then, it’s a waiting game. Traders are keeping a close eye on the charts, ready to act if POL confirms the breakout.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.

The post Polygon (POL) Set for 2x Surge If This Resistance Breaks appeared first on CaptainAltcoin.

origin »

Proof Of Liquidity (POL) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -11.80 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 POL

could resistance price polygon pol determine according

Источник: captainaltcoin.com

could resistance → Результатов: 126


Фото:

Bitcoin’s Move Past $9,000 Leaves Wake of Destruction; Liquidates $20m in Shorts

Bitcoin saw a sharp rise overnight that allowed it to firmly surmount the $9,000 region This upwards movement liquidated nearly $20 million in short positions, with buyers now attempting liquidate even more shorts in an attempt to fuel an uptrend The crypto has been rejected within the $9,200 region, however, which could halt its short-term uptrend Analysts are now also noting that heavy resistance just above Bitcoin’s current price level could be enough to fuel […]

2020-5-28 23:00


Фото:

Crypto Market Faces Massive Resistance as Traders Expect Altcoins to Dive

The crypto market is flashing some overt signs of weakness as Bitcoin leads most major altcoins lower Although some smaller tokens have been able to escape these losses, the aggregated market recently tapped a major resistance level, opening the gates for major downside This has led traders to widely note that Bitcoin and other major alts like Ethereum could be positioned to see immense losses in the near-term Bitcoin and the aggregated crypto market have […]

2020-5-27 23:00


Фото:

2 Altcoins That Could Soon Break Out

ALGO has reclaimed a long-term support level and created a bullish reversal pattern. RSR is attempting to break out above a very important resistance level but has yet to do so. Algorand (ALGO) The possibility of the ALGO price moving upwards was shown by @damskotrades, and it shows that the price has just reclaimed the […] The post 2 Altcoins That Could Soon Break Out appeared first on BeInCrypto.

2020-5-27 17:50


Фото:

Bitcoin’s Outlook is Bright as It Trades Above Key Cloud Formation

Bitcoin appears to have entered a firm consolidation phase within the mid-$9,000 region following the latest rejection at $10,000 In spite of the signs of weakness that BTC has flashed throughout the past several days, it is important to keep in mind that it has sustained above multiple key technical levels It now appears that the cryptocurrency could be well positioned to see further upside, but there is one key resistance level that must be […]

2020-5-17 22:00


Фото:

Bitcoin Exchange Balances are Down $3 Billion from Mid-March; What This Could Mean

Bitcoin has entered a firm bout of sideways trading as it struggles to garner any notable near-term momentum This comes shortly after its latest rejection at $9,900, which confirmed that the heavy resistance around $10,000 may prove to be insurmountable This short-term volatility doesn’t seem to be phasing investors, as data shows that exchanges have seen a balance decline of $3 billion worth of BTC since March 12th Bitcoin and the aggregated cryptocurrency market have […]

2020-5-17 19:00


Фото:

Bitcoin is About to Start a Fresh Macro Bull Cycle Once It Captures Key Level

Bitcoin has been able to maintain the bulk of the gains that came about during yesterday’s intense upswing Buyers are still struggling to firmly surmount the key $10,000 region, however, as it appears that bears have established heavy resistance here The cryptocurrency could still be on the cusp of entering a macro bull-cycle, and one analyst is noting that the key level that needs to be shattered exists just above BTC’s current price Bitcoin has […]

2020-5-9 21:00


Фото:

Here’s How Bitcoin Could Force Altcoins to Set “Major Lows”

Bitcoin has posted a notable upswing today that has allowed it to approach its next key resistance level at $9,500 The cryptocurrency’s intense uptrend is showing no signs of slowing down as it continues gaining dominance over the entire market Some analysts are now noting that altcoins could be positioned to see some serious losses in the weeks ahead as they all decline against their BTC trading pairs The aggregated cryptocurrency market has continued declining […]

2020-5-8 02:00


Фото:

Ethereum Narrowly Avoids a Bloodbath as Bulls Struggle to Defend Critical Support

Ethereum saw a sharp overnight selloff that caused it to briefly dip into the sub-$200 level, putting it at grave risk of seeing a capitulatory decline Buyers were able to guard against this, however, and subsequently propelled the cryptocurrency back into the $200 region It now appears that ETH could still be at risk of seeing significant near-term downside, however, as a failure for it to surmount a resistance level it is currently stuck below […]

2020-5-8 23:00


Фото:

It’s a Critical Moment for Bitcoin as Analysts Eye a Move to $14,000

Bitcoin saw some notable overnight volatility that caused it to post an upswing followed by a swift rejection, before once again climbing higher The benchmark cryptocurrency is now moving to test its next key resistance that sits at roughly $9,500 Analysts are now noting that a clean break throughout a heavy overhead supply region just above BTC’s current price could be just what it needs to make a move up to $14,000 Bitcoin’s intense uptrend […]

2020-5-7 21:00


Ethereum Could Narrowly Avoid a Major Downtrend if it Closes Above One Key Level

Ethereum has been able to capture some notable upwards momentum today, surging towards its key near-term resistance at $210 as the aggregated crypto market pushes higher. This has allowed the crypto to narrowly avoid seeing massive losses stemming from a previously bearish market structure that it had formed. ETH isn’t completely out of the woods...

2020-5-7 02:00


Фото:

Crypto Price Analysis May 6: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, LINK

On May 6, the Bitcoin price finally broke out from the resistance line it had been following over the past week. This could be a sign that the BTC price is ready to move towards new highs. In this article, we will take a look at the Bitcoin price movement, along with nine other cryptocurrencies, […] The post Crypto Price Analysis May 6: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, LINK appeared first on BeInCrypto.

2020-5-7 01:37


Фото:

Bitcoin Could Push to Fresh Yearly Highs if Buyers Defend One Key Level

Following an extended period of consolidation within the upper-$8,000 region, Bitcoin has finally garnered enough momentum to surmount its resistance at $9,200 This movement has opened the gates for significantly further upside, as it took out a major liquidity region and has yet to face any type of harsh rejection One analyst is explaining that a continued defense of $9,200 is all that BTC now needs to make a bid at the $10,000 region Bitcoin’s […]

2020-5-7 21:00


Фото:

Outlining a Bullish Wave Count for Bitcoin

The Bitcoin price has reached a descending resistance line that has been in place for more than two years. A breakout above this line would have major bullish implications for the future price. Well-known trader @crypto_rand outlined a BTC chart that shows a possible bullish pennant, which he believes could cause a breakout, giving a […] The post Outlining a Bullish Wave Count for Bitcoin appeared first on BeInCrypto.

2020-5-6 23:20


Фото:

Bitcoin May be Topping Out After Buyers Lost a Key Level

Bitcoin has fallen back into the upper-$8,000 region after facing yet another firm rejection at $9,200 This latest rejection marks the third one that the cryptocurrency has seen in recent times, signaling that the resistance here could ultimately prove to be insurmountable Analysts are now noting that Bitcoin is flashing signs of forming a local top, signaling that the crypto is now poised to see further downside in the days and weeks ahead Bitcoin has […]

2020-5-4 19:00


Фото:

Cryptocurrency News Roundup for April 28, 2020

Bitcoin resumed its upward momentum Wednesday as the price inched closer towards $8,000. The benchmark cryptocurrency closed the day above the key resistance area around $7,800. While $8,000 remains untouched during the current rally, optimistic traders believe that a new bull run could be in the cards, especially considering that the BTC price currently trading […] The post Cryptocurrency News Roundup for April 28, 2020 appeared first on BeInCrypto.

2020-4-29 11:14


Фото:

Ethereum Forms Grim “Triple Top” Formation as 92% of Traders Go Long

Ethereum has pushed higher despite Bitcoin’s stability, leading bulls to retest its key near-term resistance The cryptocurrency is on the cusp of forming a highly bearish technical formation that could be confirmed if it posts another harsh rejection at its current price level This comes as 92% of traders on Bitfinex go long on ETH, signaling that a long squeeze may be imminent Although Bitcoin has continued extending its bout of rangebound trading within the […]

2020-4-29 23:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

How High Cardano (ADA) Price Can Go In December?

Cardano (ADA) has had a rough few weeks, and the selling pressure hasn’t fully settled. Even so, ADA is back in the conversation after several developments around its governance, network stability, and the latest liquidation wave.

Here’s Where MYX Finance (MYX) Price Could Be Headed In December

As the week begins, MYX Finance (MYX) is already showing increased activity amid rising speculation about what comes next. Traders are paying close attention to the project again, especially with talk of a possible Binance listing and renewed interest around the V2 upgrade.