Polygon (MATIC) Price Prediction: Is a Surge Above $1 Imminent?

Polygon’s recent price action has sparked debate among analysts. After a seemingly decisive breakout above $0.20, a minor pullback occurred. However, this dip might be a healthy retracement before another upward swing. Long-term charts show a bullish structure, especially considering the recent rebound from the lower boundary of a descending channel.

Bullish Divergence Suggests Breakout

According to technical analyst, MasterAnanda, Polygon (POLUSDT) displays a strong bullish divergence on the 3-day chart. While the price hit a low on April 7, 2025, the Relative Strength Index (RSI) bottomed earlier in July 2024 and has been forming higher lows. This discrepancy between price and momentum is a classic signal of a weakening downtrend. Increased volume and the broader crypto market recovery reinforce this signal.

The 3-day chart shows a notable rebound from the April 7 low, reaching $0.267 by April 22 before facing resistance. Two bearish candlesticks followed, likely a retest before a major breakout. This retest is a crucial indicator for a potential surge.

Analyst Predicts $1 Surge: A Final Buying Opportunity?

MasterAnanda views the current price action as a calm before a significant move. He suggests this is a last chance to buy before a substantial rally. With the RSI in the mid-40s, a swift move to the 70+ zone is possible if the bullish setup holds.

Price Target: $1.15 and Beyond

The analyst predicts a full recovery above $1, targeting $1.15. This level corresponds to the 1.618 Fibonacci extension from the April 7 low. Other Fibonacci levels, such as $0.461 and $0.534, could act as interim consolidation zones. At the time of writing, Polygon trades at $0.2420.

Disclaimer: This is not financial advice. Cryptocurrency investments are risky.