Polygon’s POL Price Surges as Analyst Predicts ‘Easy’ 3X Gains

Recent pump in the crypto market made some “old” altcoins recover nicely. After ADA that pumped over 20% this week, Polygon’s POL is “waking up” as well. The POL price is now just slightly below $0.4 after pumping 11% today.

Popular crypto analyst Edward Morra shared a compelling Polygon chart analysis with his 60,000 followers on X.

Looking at his chart, POL seems to be at a make-or-break point – and Morra thinks this could be the perfect entry for traders looking for serious gains.

Here’s why this is interesting: POL has been hanging around the $0.30 zone for a while now, and this level has been like a solid floor, catching every dip buyers throw at it. But the really juicy part? There’s a massive resistance zone between $0.80 and $0.90 that, if broken, could send POL on a rocket ride.

Source: X/@edwardmorra_btc

The Road to Recovery: What’s Next for the POL Price?

The chart’s looking pretty sweet right now. After months of pain, POL seems to be forming what traders call a “bottoming pattern” – basically, it’s showing signs that the worst might be over. The recent 21% weekly gain isn’t just a random pump; it’s backing up this theory.

Morra’s not beating around the bush here. He’s calling for what he sees as an “easy 3x” from current prices, which would put POL somewhere around $1.20. While that might sound ambitious, it’s worth noting that POL was trading at $1.70 just a couple of years ago.

Looking at the price levels, if POL can push past $0.50, that could open the doors to $0.80-$0.90. Break through that, and the old highs above $1 start looking achievable. Of course, it’ll need more than just technical analysis – the overall crypto market needs to play along too.

Read also: Here’s Why Bitcoin (BTC) Price Has Not Peaked Yet

The 11% jump today might just be the beginning of something bigger, especially if it can hold above $0.40. But as always with crypto, nothing’s guaranteed – traders should keep an eye on those key levels and manage their risk accordingly.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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