Based

bullish

Polygon

<p>With the altcoins rising, the Polygon (POL) price is below $0.30. As the buying pressure surges, the altcoin teases a trend reversal with a breakout rally.&nbsp;</p>   
<p>Will the uptrend in Polygon cross the $0.50 psychological mark as the broader market recovers? Let’s find out more in Coinpedia’s Polygon price analysis.</p>   
<h2 class="wp-block-heading" id="h-will-polygon-give-a-channel-breakout">Will Polygon Give A Channel Breakout?</h2>   
<p>Maintaining a falling channel pattern in the daily chart, the overall price trend in POL remains bearish. Under the influence of a strong resistance trendline and the declining 50-day EMA, the downfall in the POL price continues.&nbsp;</p>   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/07160037/image-96-1024x509.png" alt="POL price chart" class="wp-image-377011">
</figure>   
<p><a href="https://www.tradingview.com/x/kjbKVtFd/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>However, the recent bullish comeback from the falling channel support trendline and the broader market recovery ignites a new positive trend. Over the past three days, the POL market price has increased by 16%, leading to three consecutive bullish candles.&nbsp;</p>   
<p>The uptrend is aiming higher to challenge the 50-day EMA. Beyond the dynamic resistance, the altcoin must surpass the declining resistance trendline for a breakout run. However, the breakout rally is likely to face another resistance at the $0.50 psychological mark and the 200-day EMA.&nbsp;</p>   
<p>With the increased buying pressure, the MACD and signal line give a trend reversal and a positive crossover. The surge of positive histograms signals a buying opportunity.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-will-pol-price-cross-0-50">Will POL Price Cross $0.50?</h2>   
<p>The short-term change of character in POL comes with a breakout of $0.335. Thus, the price action highlights an increased possibility of a breakout run in POL prices.&nbsp;</p>   
<p>Based on the Fibonacci levels, the breakout run could reach the 50% Fibonacci level at $0.6089. On the flip side, the crucial support for the POL token remains at the $0.30 psychological mark and the $0.2918 bottom formation.</p>   
<p>Also, read our <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/" target="_blank" rel="noreferrer noopener">Polygon Price Prediction 2024-2030</a>, for insights about the long-term prospects of this cryptocurrency.</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1730975463499">
  <strong class="schema-faq-question">What is the current trend in POL's price action?</strong> 
  <p class="schema-faq-answer">POL is in a falling channel pattern with a recent 16% bullish rebound. It aims to challenge key resistances.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1730975469811">
  <strong class="schema-faq-question">What are the key resistance levels for POL's breakout?</strong> 
  <p class="schema-faq-answer">The main resistances are the 50-day EMA, the declining resistance trendline, the $0.50 psychological mark, and the 200-day EMA.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1730975470771">
  <strong class="schema-faq-question">What are the potential price targets for POL after a breakout?</strong> 
  <p class="schema-faq-answer">Based on Fibonacci levels, the breakout rally could target the 50% Fibonacci level at $0.6089, with further upside possible.</p> 
 </div> 
</div>

POL Price Rebound Targets $0.50: Breakout on the Horizon?

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