Polygon: Bulls defend $0.10 demand zone – Can POL rally 15%?

ambcryptoPublicado em 2026-02-04Última atualização em 2026-02-04

Resumo

Polygon (POL) has rebounded from the $0.10 psychological support level, bouncing 15.25% on January 2nd after testing this zone. Despite this positive reaction, the longer-term trend remains bearish, with POL trading within a range of $0.10 to $0.18. The recent milestone of 3 million POL burned in a single day and a total of 25.7 million tokens burned in January did not fully offset the selling pressure from Bitcoin's market influence. The On-Balance Volume (OBV) indicates a balance between buying and selling pressure. For a sustained rally, POL would need to reclaim the $0.1325 supply zone, but this is unlikely unless Bitcoin breaks above its local resistance of $79.4k. Traders are advised to wait for clearer signals, as a bearish reaction at $0.13 could present a selling opportunity, while a reclaim might lead to a rally toward $0.186.

Polygon [POL] has responded positively at the $0.1 psychological demand zone. It tested this area at the beginning of January and then again over the weekend, bouncing 15.25% on Monday, the 2nd of January.

This response was encouraging, but it does not outweigh the longer-term downtrend of POL. The rally in January came alongside an impressive milestone POL burn of 3 million tokens in a single day.

The strong burn rate continued throughout the month. AMBCrypto reported that 25.7 million POL was burned, one of the largest monthly burns.

Yet, the wider market fear due to the selling pressure on Bitcoin [BTC] did not bode well for Polygon bulls.

Is POL bullish or bearish?

On the weekly timeframe, stretching back to December 2024, the altcoin’s trend has been bearish. On the daily chart above, we can see that it is neither bullish nor bearish.

Instead, it seems constrained within the $0.10 and $0.18 levels, forming a range.

For the second time in just over a month, the $0.0987 low was tested and held. The OBV did not make new lows either, showing an equilibrium between sell and buy pressure.

The current bounce came alongside a BTC bounce to $79k on Monday. It is safe to say that Bitcoin will have a major influence on POL price trends and could decide its next impulse move.

Assessing the potential of a POL bounce

The $0.1325 was a support level of some importance in recent weeks. The $0.13 supply zone, highlighted in red, was also a short-term area that could see a reaction from the bears.

Therefore, there is potential that the current POL bounce would extend to $0.1325.

Can it extend the gains? As things stand, this looks unlikely. Bitcoin has a bearish short-term bias until the $79.4k local resistance is breached.

Traders call to action – Wait

Long-term investors would be encouraged by the defense of the $0.1 psychological support, but it is too early to call for a recovery. Swing traders can keep an eye on the $0.13 supply zone.

A bearish reaction would be a selling opportunity. A reclaim of this level could see a rally toward $0.186.


Final Thoughts

  • POL has been oscillating between $0.10 and $0.18 in recent weeks.
  • Unless Bitcoin climbs back above the local resistance, a POL breakout beyond $0.12 and $0.1325 would be unlikely.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

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Perguntas relacionadas

QWhat is the key demand zone that Polygon (POL) has defended recently?

APolygon (POL) has defended the $0.10 psychological demand zone.

QWhat significant event accompanied the POL rally in January?

AThe rally in January came alongside an impressive milestone of 3 million POL tokens burned in a single day.

QWhat are the upper and lower bounds of the range that the price of POL has been constrained within?

AThe price of POL has been constrained within the range of $0.10 and $0.18.

QAccording to the article, what is a major factor that will influence POL's price trend and its next impulse move?

ABitcoin (BTC) will have a major influence on POL's price trends and could decide its next impulse move.

QWhat is the suggested action for swing traders regarding the $0.13 supply zone?

ASwing traders should keep an eye on the $0.13 supply zone; a bearish reaction would be a selling opportunity, while a reclaim of this level could see a rally toward $0.186.

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