Polygon (POL) experienced a strong recovery on Saturday, Feb 14, with the buyers coming in during the midday session. POL gained 11.7%, and it is currently trading at $0.1064, according to CoinMarketCap data.
Over the last week, the price of POL appreciated by 10.09%. The trading volume, however, declined by 17.23% and currently stands at $85.71 million.
Source: CoinMarketCap
POL Holds Falling Wedge Support
Crypto analyst Jonathan Carter highlighted that POL is trying to perform a recovery based on the lower boundary of the falling wedge pattern on the 3D chart. The structure remains intact even with the decline in the value of the cryptocurrency.
The analyst identified the upper levels for POL as $0.13, $0.17, $0.21, $0.29, $0.41, and $0.52, depending on the strength of the move. The token is trying to perform a recovery, with the support of the buyers, based on the lower boundary of the falling wedge.
Source: X
The cryptocurrency’s value remains intact, and the structure of the falling wedge remains valid as long as the support holds. The analysis shows the market positioning and interest in the early reversal setup.
Shark Crypto, another analyst, has mentioned that POL is still holding above $0.0910 and now acts as a support. Any positive reaction to this will result in another attempt to go higher. The next price target for the token is above $0.1100, where there is a cluster of liquidity.
Source: X
Also Read: Polygon (POL) enables USDC tax refunds for the 2026 Winter Olympics
Open Interest Rises as Trading Volume Declines
Derivatives activity also saw a change in sentiment. CoinGlass data shows a drop in volume by 8.33% to $77.57 million. Open Interest increased by 3.86%, reaching $71.75 million. The OI Weighted Funding Rate stands at 0.0027%, indicating a slight bullish bias from leveraged traders.
Source: CoinGlass
RSI and MACD Indicators Show Easing Bearish Pressure
The Relative Strength Index (RSI) for POL stands at 48.89. This puts the token in a neutral position. The signal line stands at 36.61, indicating a reduction in selling pressure. The Relative Strength Index is a momentum indicator that measures stability.
The Moving Average Convergence Divergence (MACD) indicator has shown a positive reaction to this price action. The MACD line stands at 0.0009. The signal line stands at -0.0074. The histogram stands at -0.0084, indicating a reduction in bearish pressure.
Source: TradingView
Market participants are monitoring token price action around the $0.1100 level. Analysts note that a clean break above the level could be a sign of continuation. However, the broader outlook depends on buyers defending support and maintaining control over the next sessions.
Also Read: Solana Recovery Potential Targets $500–$1,000 If Historical Fractal Repeats
