Polygon’s Chart Hints at Potential Upside Move

Despite a broader downturn in the cryptocurrency market, Polygon (POL) is showing signs of resilience. Its chart suggests a potential bullish reversal pattern, with key harmonic signals emerging. Analysis reveals that the POL price is forming a Bearish ABCD harmonic pattern on the daily chart. This structure, while technically bearish, typically involves a strong bullish CD-leg rally before the final Potential Reversal Zone (PRZ) takes hold. The pattern’s formation has begun with a surge from Point A near $0.1633 to Point B, followed by a pullback to Point C at around $0.1898, where buyers re-entered the market. Since then, POL has rebounded and is currently hovering around $0.2448. The ongoing rally suggests that the CD leg is now unfolding. The 1.36 Fibonacci extension of the BC leg projects Point D near $0.2896, which could be a significant upside target for traders.