- POL has risen nearly 30% in the past week, rebounding from a low of $0.1533, aligning with the bullish market sentiment.
- The breakout follows weeks of consolidation, with Bitcoin’s rally past $94,000 boosting altcoins like POL.
- Technical indicators show a confirmed breakout, with short-term targets around $0.36 and potential long-term recovery toward $1.30.
POL, the rebranded version of Polygon’s native token MATIC, is showing strong bullish momentum as it prepares for its next leg up. Over the past week, POL has climbed nearly 30%, signaling the start of a renewed uptrend. After hitting a recent low of $0.1533, the token rebounded sharply and is now aligning with the overall bullish sentiment sweeping across the crypto market.
Currently trading at $0.2481, the token holds a 24-hour trading volume of $187.9 million and a market capitalization of $2.57 billion. The recent price action comes after several weeks of tight consolidation, during which the token gradually built up pressure before finally breaking out.
The breakout has been fueled in part by Bitcoin’s rally past $94,000, which has triggered a fresh wave of optimism among investors. With BTC setting new records, altcoins like POL are benefitting from the renewed market enthusiasm.
POL Bullish Momentum Builds, $1.30 Target in Sight
According to analyst ZAYK Charts, technical indicators support the bullish case for POL. A confirmed breakout from a descending channel pattern suggests the token has entered a new upward phase.
This pattern often acts as a strong reversal signal and adds weight to the recent price surge. Short-term targets are being set around the $0.36 level, while the broader outlook hints at a more substantial recovery.
Further supporting the bullish narrative Javon Marks highlighted the the confirmation of a regular bullish divergence on the charts. This pattern, which typically precedes significant trend reversals, suggests the potential for a larger rally. If momentum continues to build, the token could be looking at a long-term recovery toward the $1.30 zone, representing a move of over 395% from recent lows.
With technical patterns aligning and market sentiment favoring risk-on assets, POL appears well-positioned for continued growth. As attention shifts toward altcoins, the token may emerge as one of the key performers in the coming weeks.
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