- Polygon (POL) has gained 23% over the past 30 days and is forming a Bearish Gartley harmonic pattern on its daily chart, suggesting potential upside continuation before a reversal.
- POL is currently trading near $0.2367, holding above its 100-day moving average ($0.2139) which has become key support, with the 200-day MA ($0.2656) acting as the next major resistance.
- If POL breaks above the 200-day MA, it could rally toward the Potential Reversal Zone of $0.2955 to $0.3342, representing a potential 40% upside from current levels.
- The broader crypto market is experiencing bullish momentum with Ethereum up 19% over the past week, creating spillover effects that are benefiting major altcoins including Polygon.
Date: Sat, July 19, 2025 | 10:27 AM GMT
The cryptocurrency market is experiencing a mild weekend cooldown after a strong week of gains, with Ethereum (ETH) leading the broader uptrend — up 19% over the past week and trading near $3,550. This bullish momentum is spilling over into major altcoins, including Polygon (POL), which is showing signs of further upside.
POL has gained 23% over the past 30 days, and beyond this steady rise, a Bearish Gartley harmonic pattern forming on its daily chart suggests there could be more upside before any meaningful reversal.
Harmonic Pattern Hints at Upside Continuation
On the daily timeframe, POL is tracing out a textbook Bearish Gartley harmonic pattern, often seen as a signal for a continuation rally before eventually hitting a reversal zone.
The pattern begins at point X near $0.3342, drops to point A, rebounds to point B, and extends to point C near $0.1636. Since then, POL has staged a sharp rebound and is currently trading near $0.2367, comfortably holding above its 100-day moving average ($0.2139), which has now turned into a key support.
The next challenge lies at the 200-day moving average ($0.2656) — a major resistance level that has capped rallies in the past.
What’s Next for POL?
If POL breaks above the 200-day MA with strong volume, the token could rally toward the Potential Reversal Zone (PRZ), which spans from $0.2955 to $0.3342. These targets align with the 0.786 and 1.0 Fibonacci extensions, which typically mark the completion of Bearish Gartley structures. From current levels, this implies a potential 40% upside.
However, if POL fails to reclaim the 200-day MA, a pullback toward the 100-day MA ($0.2139) could follow before another breakout attempt. For bulls, holding above $0.2139 remains critical to sustain momentum during this harmonic completion phase.
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