Analyst Predicts Polygon’s Biggest Bullish Surge Could Be Just Beginning

• Polygon ($POL) shows its largest bullish divergence ever, hinting at a possible breakout and significant upward momentum.
• Analyst Javon highlights a potential 300% surge in Polygon ($MATIC) to its all-time high, fueled by key technical patterns.
• The $0.60 support level and $1.50–$1.70 resistance range are pivotal for determining Polygon’s next major price movement.

According to analyst Javon, Polygon ($POL, ex-MATIC) has confirmed its most significant bullish divergence to date. This aligns with a potential for its largest breakout ever, possibly leading to remarkable upward momentum. 

Javon highlighted that a 300% surge toward its all-time high of $2.879 might only represent the beginning of a larger move. The cryptocurrency’s price history and technical indicators suggest different dynamics of support and resistance levels that could define its movement.

Analyzing MATIC’s Price Trends and Key Levels

From early 2021 to late 2021, Polygon’s price experienced substantial growth, climbing from $0.40 to a peak exceeding $2.80. However, the momentum waned, leading to a downtrend with periods of consolidation and lower highs. At press time, Polygon was trading at $0.70, well below its all-time high but above the strong support near $0.60.

The $0.60 level has consistently acted as a support, while the $1.50–$1.70 range has posed resistance on multiple occasions. Breaching these resistance levels could lead to a significant upward movement, while a drop below $0.60 might bring the next support near $0.40 into play.

Indicators and Moving Averages

The recent price recovery from $0.34 to $0.85 marked a breakout above both the 50-day and 200-day moving averages. This movement aligns with a “golden cross,” where the 50-day average crosses above the 200-day average, often considered a bullish signal.

Polygon further shows a reversal in October 2024, where the price climbed swiftly after months of decline. This rally shows the potential for Polygon to regain upward momentum if broader market conditions align.

Future Focus on Support and Resistance

Polygon’s current standing at $0.70 reflects a pullback from recent highs but remains above earlier lows. While the price action suggests underlying demand near support levels, the ability to overcome resistance zones near $1.50 and $1.70 will likely determine the strength of any future rally. Monitoring key levels and technical patterns will be essential for assessing potential market trends.