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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Last Chance For Polygon As Crypto Analyst Predicts MATIC Price Will Surge Above $1 Again

Scott Matherson
Scott Matherson
5 months ago
3 mins read

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Polygon’s price action over the past week has been characterized by a moderate pullback following what initially appeared to be a decisive breakout above the $0.20 level. This dip, rather than signaling weakness, may in fact represent a healthy retracement as the cryptocurrency prepares for a new upward move. 

The price structure appears bullish on higher timeframes, especially after POL recently rebounded off the lower boundary of a long-term descending channel. According to a crypto analyst, Polygon could be on the verge of an explosive rally toward the $1 mark.

Classic Bullish Divergence Points To Imminent Breakout

According to technical analyst MasterAnanda on TradingView, the Polygon ecosystem token (POLUSDT) is currently flashing one of the strongest technical reversal signals in the form of a textbook bullish divergence on the 3-day chart. Price action hit a new low on April 7, 2025, but the Relative Strength Index (RSI) had already bottomed earlier in July 2024 and has since been forming higher lows.

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As noted by the analyst, this mismatch between the price and the momentum indicator is a classic signal that the downtrend may be losing steam. The signal is reinforced by the recent increase in volume and the broader bullish recovery observed across the cryptocurrency market.

Polygon
Source: Master Ananda on X

Zooming in on the 3-day chart structure, POLUSDT experienced a notable rebound after reaching its low on April 7. The price climbed steadily to $0.267 by April 22 before encountering resistance. What followed were two successive bearish candlesticks that appeared to trace a measured pullback, likely a retest of the upper boundary of the descending channel.

This movement is significant because retests of this nature often precede major breakouts. Keeping this in mind, the analyst predicted a successful bounce from the trendline support, which could start a sustained rally toward $1. 

Polygon To $1: Window Of Opportunity Narrowing

Analyst MasterAnanda noted that the current price action is merely a calm before a massive move. “The market is giving us one last chance to buy all we want before massive growth,” the analyst said, implying that a strong impulsive wave could be next. The RSI is currently in the mid-40s, and if the bullish setup plays out, a swift move to the 70+ zone could occur.

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In terms of a price target, the analyst predicted a full recovery above $1 with a specific target of $1.15. This would mark a full recovery for POL holders who have been holding throughout the downturn in 2025. This level corresponds to the 1.618 level on the Fib extension projected from the April 7 low. The Fibonacci extension levels plotted on the chart show other smaller price targets on the way to $1.15. Most notable are the $0.461 and $0.534 regions, representing the 0.5 and 0.618 extension levels, respectively, which could serve as interim consolidation zones.

At the time of writing, Polygon is trading at $0.2420.

Polygon
MATIC trading at $0.24 on the 1D chart | Source: MATICUSDT on Tradingview.com
Featured image from Adobe Stock, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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