- POL broke past $0.2165 after five failed attempts, with a breakout candle at $0.2206 and volume confirming bullish intent.
- The 20 EMA crossed above the 50 EMA, reinforcing bullish momentum as the former resistance zone flips to confirmed support.
- Price reclaiming the 50 EMA signals a trend shift, with immediate resistance targets seen at the $0.2240 to $0.2260 range.
Polygon’s native token( POL) broke out of a multi-day consolidation range, confirming short-term bullish momentum. The breakout follows consistent price compression and signals a potential continuation if key levels hold.
Breakout Shifts Momentum After Tight Range Trading
POL traded between $0.2140 and $0.2165 for several sessions, forming a flat base after a steep drop. Price held above $0.2100 while rejecting deeper lows, coiling tightly between the 20 EMA and 50 EMA. A breakout candle at $0.2206 marked the highest close since May 29, supported by a 0.91% gain and rising volume.
As in the post by Alpha Crypto Signal, sentiment turned bullish as POL broke above range resistance. This move came after five failed attempts to cross $0.2165 across June 1–2. Technical analyst Marcus Lane has provided insights into this pattern, highlighting its potential implications for a trend reversal.
Source: Post on X
“The structure shows a textbook breakout backed by clean price action and volume confirmation,” according to Lane. He points to the EMA crossover, where the 20-period EMA pushed above the 50-period EMA, as a signal of resumed bullish momentum. While his take on the matter has been debated, it does seem that some analysts are aligning with similar perspectives.
Lane also noted the significance of rejection wicks near $0.2120, calling them evidence of accumulation before a breakout. He observed the breakout zone now flips to support, with $0.2140–$0.2165 acting as a key demand area. Likewise, others deem this to be a pivotal moment and go on to say that further developments are inevitable.
Volume, EMA Cross, and Support Flip Reinforce Setup
Beyond this, it’s important to recognize that the synchronized spike in volume and price movement underscores heightened market engagement. Alpha Signal has provided insights suggesting that former resistance zones may now serve as springboards for upward momentum.
Source: Post on X
Another key consideration is that POL has reclaimed its 50 EMA for the first time in several sessions. This marks a structural shift from sideways to upward continuation, with the next resistance near $0.2240–$0.2260. This signals either a significant breakthrough or perhaps a sign that broader changes may be on the horizon.
However, despite the many optimistic forecasts, caution remains as the market could fall even further to critical levels if conditions persist. A drop below $0.2165 would invalidate the breakout and could trap longs.
