Polygon (POL) Rebound in Play — But Trend Confirmation Still Pending
Polygon ($POL ) has bounced strongly from the $0.10–$0.11 demand zone, gaining over 14% and signaling short-term relief after a deep correction from $0.18. On-chain fundamentals support the bounce: January fee growth hit $1.7M, ~25.7M POL burned, rising stablecoin supply, and increased activity driven by Polymarket and ERC-8004 adoption. These point to improving network utility and liquidity flows.
Technical Breakdown
◾ Price holding above $0.11 keeps a higher-low structure intact
◾ RSI ~61 shows healthy momentum without overbought conditions
◾ Attempting to reclaim the 20/50/100 MA ribbon, with the 50-SMA starting to curl up
Key Levels
◾ Resistance: $0.12 → $0.132 → $0.143
◾ Major breakout zone: $0.15–$0.18
◾ Invalidation: Below $0.11, exposing $0.10 again
Can POL Double?
A 100% move requires a clean break and hold above $0.15, followed by reclaiming $0.18 with strong volume and market support. Until then, the move looks more like structured recovery legs rather than a full trend reversal.
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