Polygon (POL) faces a substantial downturn as analysts predict a potential price collapse. The crypto recently broke below a multi-year support level, signaling further downside risk.
The breakdown aligns with technical indicators suggesting an extended bearish trend. With market sentiment already weak, experts caution traders about the possibility of a steep decline. Unless key resistance levels are reclaimed, POL could be set for a sharp correction.
Crypto analyst Ali (@ali_charts) noted that Polygon is breaking out of a multi-year descending triangle. The bearish formation suggests a prolonged downtrend as the price struggles to hold critical support.
#Polygon $POL looks to be breaking out of a multi-year descending triangle, potentially setting up for a move toward $0.041! pic.twitter.com/42oO53cKEN
— Ali (@ali_charts) March 4, 2025
According to the provided chart, the horizontal support level around $0.32 was decisively breached. This confirms a bearish breakout, increasing the likelihood of a continued selloff. Historical patterns indicate that once a descending triangle breaks downward, the measured move can project the next support zone.
POL Price Targets Indicate a Possible 83.9% Drop
At press time, POL trades at $0.2546, reflecting a substantial decline from previous levels.
The descending triangle’s measured move suggests a potential drop toward $0.041. This represents an 83.9% decrease from the current price, aligning with the analyst’s projections.
The long-term structure remains firmly bearish. Lower highs continue to form, reinforcing sustained selling pressure. With no visible bullish divergence, technical indicators provide no signs of an imminent recovery.
Read also: XRP Price Prediction as Ripple Whales Go on a Buying Frenzy
POL Market Sentiment Remains Bearish
POL has dropped 13.49% in the last day and 5.32% in the last week, according to CoinGecko data. heightened trade volume and this steep decline point to heightened selling pressure.
Traders are closely monitoring whether Polygon can reclaim key levels, particularly $0.32, which has turned into resistance. Failure to regain this level could accelerate the bearish trend, pushing the price closer to the projected target.
- Resistance: $0.32 (previous support now acting as resistance)
- Support: $0.041 (measured move target)
Polygon’s technical outlook remains bleak unless a strong reversal occurs. Traders should exercise caution as further losses appear likely unless critical levels are reclaimed.
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