Polygon (POL) has faced challenges even as Bitcoin continues its rise. What does this mean for its recovery?
Historical Support Zone
Polygon's recent downtrend began on December 2, 2024, due to rejection from the upper resistance of the triangle at $0.76, driving prices to key support between $0.28 and $0.41, traditionally a substantial rebound area.
Will Polygon Recover?
The current support level has historically provided a solid foundation for Polygon’s price recovery. It’s expected to follow Ethereum’s recovery and general market sentiment to initiate a trend reversal.
Reversal is Possible within the Next Few Days
At the time of writing, Polygon was selling at around $0.22, reflecting modest growth in the last 24 hours. Analysts predict it could surpass the $0.3051 resistance level, but decreased address activity may hold back momentum.
Polygon currently displays mixed signals as it stands on the verge of potential rebound. If support holds, a breakout may occur soon, but decreased activity could stifle the momentum.
