Rally

bullish

Polygon

Read

<p>Polygon (POL) price has been slightly bearish for the past three days, but there may still be some upside left for the price, as suggested by Ali Charts on X.</p>
<p>Ali suggests that Polygon (POL) might be on the verge of significant rallies—the most hated rallies. There are bearish sentiments in the ecosystem. However, he points out that several bullish indicators are emerging, signaling a potential reversal in trend.</p>
<p>The analysis reveals a large descending triangle pattern, with <a href="https://www.etoro.com/markets/pol" target="_blank" rel="noopener noreferrer nofollow">POL price</a> recently bouncing off the triangle’s lower x-axis support level. This bounce coincided with a critical Fibonacci retracement level at 0.618 ($0.2873), which often serves as a strong support zone in technical analysis.</p>
<h2 class="wp-block-heading" id="some-bullish-indicators-are-piling-up">Some Bullish Indicators Are Piling Up</h2>
<p>Some of the bullish indicators that are showing include:</p>
<h3 class="wp-block-heading" id="stochastic-oscillator">Stochastic Oscillator</h3>
<p><a href="https://www.investopedia.com/terms/s/stochasticoscillator.asp" target="_blank" rel="noopener noreferrer nofollow">The Stochastic indicator</a> has flipped bullish, marked by a crossover in the oversold zone. This shift suggests a change in momentum towards the upside. Historically, such crossovers from oversold positions are precursors to trend reversals.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/bitcoin-cash-bch-nearing-a-violent-breakout-as-btc-price-approaches-100k/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Cash (BCH) Nearing a ‘Violent Breakout’ as BTC Price Approaches $100k</a></em></strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="766" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-713-1024x766.png" alt="" class="wp-image-585529" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-713-1024x766.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-713-300x225.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-713-767x574.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-713-1536x1150.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-713-2048x1533.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-713-200x150.png 200w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-713-100x75.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-713-468x350.png 468w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-713-788x589.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-713.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h3 class="wp-block-heading" id="macd-moving-average-convergence-divergence">MACD (Moving Average Convergence Divergence)</h3>
<p><a href="https://altfins.com/knowledge-base/crypto-momentum/" target="_blank" rel="noopener noreferrer nofollow">The MACD histogram </a>is transitioning from bearish (red) to bullish (green), indicating a reduction in bearish momentum. The convergence of the signal lines hints at a potential bullish crossover, which is typically a strong confirmation of an impending rally.</p>
<h3 class="wp-block-heading" id="fibonacci-levels">Fibonacci Levels</h3>
<p>The recent bounce at the 0.618 Fibonacci level reinforces its role as a robust support area. Future resistance levels are anticipated at 0.786 ($0.7973) and the 1.0 Fibonacci extension ($1.9255), providing targets for upward movement.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/cardano-ada-to-kickstart-new-uptrend-if-price-closes-above-this-key-level/" target="_blank" rel="noopener noreferrer nofollow">Cardano (ADA) to Kickstart New Uptrend if Price Closes Above This Key Level</a></em></strong></p>
<p><a href="https://x.com/ali_charts/status/1859332135250964713?s=46" target="_blank" rel="noopener noreferrer nofollow">Ali has outlined</a> a possible breakout path for POL, suggesting targets at higher Fibonacci extension levels, including 1.272 ($15.2670) and 1.414 ($18.1703). These projections indicate long-term bullish potential.</p>
<p>The term “most hated rallies” reflects a contrarian perspective, where the overall bearish sentiment may lead traders to underestimate the bullish signals. This situation can create conditions for a stronger rally as short-sellers might be compelled to cover their positions, further driving the price upward.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/polygon-pol-could-stage-the-most-hated-rally-as-bullish-signals-mount/" rel="noopener noreferrer nofollow">Polygon (POL) Could Stage the ‘Most Hated’ Rally as Bullish Signals Mount</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Polygon (POL) Could Stage the ‘Most Hated’ Rally as Bullish Signals Mount

Table of Contents

CaptainAltcoin

Other articles published on Nov 21, 2024

Why WallitIQ (WLTQ), Pepe (PEPE), And Cardano (ADA) Are The Best Crypto Coins To Buy This Bull Run

BNB Faces Momentum Crisis as Volatility and Trading Interest Wane

The Best Crypto to Buy Today: 9 Coins to Accelerate Your Wealth Building

Over 92.3% Price Pump Await FLOKI Holders as the Memecoin Turned Altcoin Shows Strong Bullish Ind...

Top Crypto to Invest in Right Now – XRP, Stacks, ApeCoin

Strong Market Confidence Suggests Shiba Inu To Continue Rally Ahead. Yeti Ouro’s Community Grows ...

Join our free newsletter for daily crypto updates!