Polygon Price Could Target 90% Surge if This Level Breaks
Key Insights
- Polygon (POL) price has rebounded nearly 25% from its Jan. 31 lows near $0.098.
- Selling activity has dropped sharply, while short positions remain three times higher than longs.
- A move above $0.18 could open the path toward a longer-term target near $0.35.
Polygon (POL) price has moved higher in recent days, rising about 7.3% in the past 24 hours. More importantly, it is now up nearly 25% from its Jan. 31 lows. This comes at a time when the broader crypto market has only gained around 2%.
Even so, Polygon is still down about 7% over the past week and the past month. This shows that the longer trend is still weak. The recent bounce looks strong, but it has not yet changed the bigger picture.
For traders, this creates a mixed situation.
Polygon Price Structure Shows a Possible Reversal
Polygon price has formed a clear double bottom near $0.098. A double bottom happens when the price tests the same low twice and holds. It often signals that sellers are losing control.
In this case, both January and early February saw buyers defend the $0.098 area. Each time the price touched this level, it bounced back. This created the base for the current recovery.
At the same time, there was a bullish divergence on the Relative Strength Index, or RSI. RSI measures buying and selling pressure.
Between Nov. 21 and Jan. 31, POL price made a lower low, but RSI made a higher low. This usually suggests that selling momentum is weakening.
Polygon Price Analysis | Source: TradingView
After this signal appeared, Polygon price rebounded about 24% from its January lows. This confirms that buyers reacted to the shift in momentum.
However, the full pattern is not complete yet. The neckline of the double bottom sits near $0.18. Until the price reaches and breaks this level, the structure remains unfinished.
Reaching $0.18 alone would require a strong rally for the POL price from current levels.
POL Price On-Chain Activity Shows Stronger Holding Behavior
On-chain data also supports the idea that selling pressure is easing. During the market sell-off on Jan. 31, Polygon’s spent coins activity jumped to around 59.75 million.
This metric tracks how many POL tokens are being moved and sold. High readings usually mean panic or heavy profit-taking.
Since then, this number has dropped to about 29.97 million. That is a fall of nearly 50%.
This tells a simple story. Even though POL price has moved higher, fewer holders are rushing to sell.
Many investors are choosing to hold instead of exiting. This shows growing confidence in the current price zone.
POL Spent Coins Dip | Source: Santiment
This is important for any recovery. When the price rises, but coin movement stays low, it usually means buyers are in control. Sellers are stepping back.
The liquidation data adds another layer for Polygon price. On Bybit, cumulative short leverage stands near $4.92 million, while long leverage is around $1.62 million. That means shorts outweigh longs by about three to one.
Polygon Liquidation Map | Source: CoinGlass
When shorts dominate like this, even small price increases can trigger forced buying. If POL price keeps moving up, short sellers may be pushed to close positions. This can create a short squeeze and accelerate the rally.
This helps explain why Polygon price has risen nearly 25% since Jan. 31, even in a weak market.
Polygon Price Levels To Watch Next
Right now, $0.11 is the first level that matters. Polygon price needs a daily close above this zone to confirm strength. Without that, the rebound remains fragile.
If the POL price price holds above $0.11, the next targets sit near $0.14 and $0.16. These areas acted as support and resistance in the past. Sellers are likely to defend them.
A move above $0.18 would be the real turning point. That would complete the double bottom pattern and activate the projected target near $0.35. From current levels, that would represent close to a 90% upside move.
This target looks ambitious in the current market. It likely requires improving sentiment across crypto, not just strength in Polygon.
On the downside, $0.093 remains critical support. If the price falls below this level, the double bottom fails. In that case, the recent bullish signals lose credibility, and downside risk returns.
As long as Polygon price holds above $0.098 and pushes past $0.11, buyers remain in control. A break above $0.18 would shift the long-term trend. If support fails, the recovery story fails for now.
The post Polygon Price Could Target 90% Surge if This Level Breaks appeared first on The Coin Republic.
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