Polygon (POL) Price Battles Market Dip amid Investor Uncertainty, Eyeing $0.75 Surge | Coinspeaker
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Polygon (POL) Price Battles Market Dip amid Investor Uncertainty, Eyeing $0.75 Surge

Crypto analysts note that POL needs to reclaim the $0.364-$0.509 range to prevent further sell-offs and stabilize its value.

Anisha Pandey By Anisha Pandey Julia Sakovich Edited by Julia Sakovich Updated 3 mins read
Polygon (POL) Price Battles Market Dip amid Investor Uncertainty, Eyeing $0.75 Surge
Photo: Depositphotos

Key Notes

  • On-chain data reveals major accumulation of POL tokens between $0.364 and $0.509.
  • Analyst Ali Martinez warns of a potential sell-off if POL fails to reclaim this support zone.
  • POL currently trades at $0.31 with no notable 24-hour price movement.

Polygon’s POL POL $0.32 24h volatility: 0.9% Market cap: $2.74 B Vol. 24h: $93.75 M token is currently at around $0.31, showing no significant gains or losses over the past 24 hours. However, the token has suffered a 24% decline in value over the past seven days, raising investor concerns. According to crypto analyst Ali Martinez, regaining control over a specific price zone is critical for a market recovery.

Notably, on-chain data indicates a large number of POL tokens were accumulated between the $0.364 and $0.509 levels. “Reclaiming this zone as support is crucial! Failure to do so could trigger another sell-off as investors look to minimize losses,” explained Martinez.

POL Price Trajectory

On the daily chart for POL, the Relative Strength Index (RSI) sits near 26, indicating the token is heavily oversold. This typically signals a potential bounce back, though sustained buying interest is necessary to confirm a reversal.

Polygon (POL) Price Battles Market Dip amid Investor Uncertainty, Eyeing $0.75 Surge

Photo: TradingView

Additionally, the token’s price hovering near the lower band of the Bollinger Band further supports the oversold narrative. If POL manages to break above $0.33 and hold it as support, volatility could push it toward the upper band.

Polygon (POL) Price Battles Market Dip amid Investor Uncertainty, Eyeing $0.75 Surge

Photo: TradingView

Meanwhile, the current On-Balance Volume (OBV) reading of 725.27 million on the daily chart suggests moderate buying volume despite the recent price drop. As per the data by CoinMarketCap, the 24-hour trading volume for the token sits at $232 million, down by 50%. A sustained increase in OBV would bolster bullish sentiment for POL.

Looking at the auto Fibonacci Extension levels, the resistance levels appear to be near $0.387 and $0.517. If POL successfully reclaims these resistance levels, the next target lies around $0.75 based on Fibonacci projections.

What’s Ahead?

Notably, the token went through a major rebranding event from MATIC to POL in September last year as part of Polygon’s broader Polygon 2.0 upgrade, which aims to transform Polygon from a simple Layer 2 Ethereum solution into a more complex and diverse ecosystem.

Since the rebranding, POL achieved a peak of $0.76 earlier in December 2024. Currently ranked 42nd by market capitalization on CoinMarketCap, the token boasts a market cap of $2.69 billion.

According to several crypto analysts on the social media platform X, POL could see sideways action in February if it holds the $0.31 and $0.33 support range. They predict that March could start a POL bull run. For now, the token remains in a fierce battle to regain lost ground, but the signs of a potential reversal are still there.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Anisha Pandey

With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.

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