Polygon (POL) is at an important point in the chart today. The price tests a major resistance line, which can determine the next direction. According to the analyst world of charts, a breakout can lead to a strong midterm rally, perhaps doubling the current price.
At the time of writing, the POL price is around $ 0.2235. Since December 2024, it has been moving within a downfall. This trend is formed by a channel, with prices that produce lower highs and lower lows over time. The top of this channel is the main level of resistance, and now, Pol is pushing against it.
This is a critical moment. If the price breaks above this trendline, this may be the first sign that the downtrend will end. But so far, the breakout has never happened. The price is still trying to make this level, and entrepreneurs are waiting for a clear move before calling it a reversal.
Buyers built a strong base first
Before this resistance reached, POL exchanged sides between $ 0.19 and $ 0.21. It remained in that range for a few weeks, which helped build a base. This type of movement is often called integration or accumulation. This means that sellers lose power as buyers begin to enter.
World of charts It is taught that this zone can now support a larger move. If the price is broken, that base can serve as a launch point for a new compress.
What happens if the price breaks?
If POL manages to break above the resistance line with a strong volume, the next target may be between $ 0.36 and $ 0.38. That would be a huge move, more than double the price from the low in April, which is around $ 0.17.
The World of Charts expects the price to return slightly after break, and then continue higher. This is a common pattern. A small pullback after a breakout often helps confirm the new trend before choosing it again.
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In a tweet, the world of charts said that Pol had tried the Descending trendline And they look forward to a breakout, with a potential moving 2x to midterm. It is important to understand that this is an expectation, not a guarantee. The breakout has never happened.
However, the setup looks strong. If the price moves above this resistance level, it can lead to a sharp rally. Until then, this is a waiting game. Businessmen are watching the charts, ready to take action if Pol confirms the breakout.
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