A Polygon chart shared by World Of Charts earlier today shows that POL price has been trading in a tight range but is now showing signs it could break out soon. According to World Of Charts, POL price is holding a key support zone just above $0.18. This area has acted as resistance and support multiple times in recent days, which is clear from the horizontal red box drawn on the chart.
World Of Charts points out that if Polygon price continues to hold above this level, it could spark a move of around 12% to 13% from current prices. The chart shows this potential rally could push Polygon price up to around $0.21, which lines up with the descending trendline marked at the top of the chart. That trendline has acted as a ceiling for POL several times before.
Key POL Support Zone Holding Strong
The analyst, World Of Charts, highlights that this support level near $0.18 has become a crucial line in the sand for POL. If buyers manage to keep the price above it, there’s a good chance the coin could build momentum for a bigger move.
The black curve under the recent price action on the chart suggests that POL might be forming a rounded bottom pattern. This is often a bullish reversal signal that hints at a shift from a downtrend to an uptrend.
POL Price Could Target $0.21 Next
According to World Of Charts, the most realistic target for this potential rally is the descending trendline zone around $0.21. If POL price reaches this level, it would mean a gain of nearly 13% from where it was trading at the time of the analysis. That’s shown clearly on the chart with the blue arrow and percentage label measuring the potential upside.
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It all comes down to whether POL can keep trading above that key support area. If it fails and dips back below, the bullish setup could break down and send the Polygon price lower again. But if World Of Charts’ analysis plays out, POL looks ready for a double-digit rally that could soon test the downtrend resistance.
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