Polygon Faces Technical Pressure Amid $0.098 Downside Risk
Polygon (POL) is experiencing technical pressure as analysts identify $0.098 as a key downside target. Despite short-term rebounds indicating buyer interest, resistance near recent highs continues to cap upward momentum. The price action reflects a corrective structure, with analysts noting that POL remains within a broader corrective Elliott Wave pattern, suggesting further downside before any sustained recovery.
As of now, Polygon trades at $0.1195, showing a modest daily gain with increased trading volume reaching approximately $83 million. This rise in volume indicates active market participation, though it has not confirmed a trend reversal. The $0.120–$0.122 range remains a significant resistance zone, with multiple tests failing to produce sustained follow-through, keeping the price in a consolidation phase.
Despite technical uncertainties, Polygon’s ecosystem developments provide a strong fundamental backdrop. The network’s recent update highlights progress towards a comprehensive payments ecosystem, focusing on compliance and infrastructure to support institutional and fintech adoption. This narrative strengthens Polygon’s fundamentals, contrasting with the current technical challenges.
