TLDR:
- Polygon price forms a double bottom, signaling the end of accumulation and the potential start of expansion.
- $0.23 neckline acts as a key breakout level after months of sideways price action.
- Altseason rotation favors Layer 1s like Polygon as Bitcoin dominance begins to fade.
- A volume spike above $0.23 could turn resistance to support, validating bullish price structure.
Polygon’s native token, POL, is flashing early signs of a major reversal. A double bottom structure has formed, setting the stage for a potential breakout.
Market watchers say this setup could align with capital flowing from Bitcoin into altcoins. Traders are now watching one key level for confirmation. All eyes are on the $0.23 mark.
Polygon Price Chart Patterns Suggest Market Shift
According to CryptoBusy, POL may have completed its long accumulation phase. Between May and July, the token formed a double bottom near the $0.18 and $0.20 levels. These lows created a strong support base that helped stop the downtrend.
The price has since moved steadily toward the neckline at $0.22 to $0.23. CryptoBusy highlighted this region as the next key test.
A clear move above it would suggest a breakout and a new phase of market strength. This would mark a shift away from the recent consolidation zone.
$POL might be setting up a textbook reversal structure ahead of altseason.
1️⃣ Phase 1 – Hype and distribution
2️⃣ Phase 2 – Double bottom accumulationPrice found support and formed a double bottom between May and July.
Reclaiming the neckline signals early accumulation phase… pic.twitter.com/NTPr0ELupQ
— CryptoBusy (@CryptoBusy) August 6, 2025
Capital Rotation Could Drive Expansion Phase
The timing lines up with what many expect to be the early stages of altseason. As Bitcoin cools off, capital tends to rotate into Ethereum, then into Layer 1 projects. Polygon often rides this second wave, gaining interest as smart contract demand rises.
CryptoBusy outlined a three-phase structure, noting that POL may now be transitioning into phase three. If correct, that would mean the token has moved through hype, correction, and accumulation. The breakout above $0.23 could be the first sign of expansion.
Price targets vary, but a move to $0.30 is widely discussed. A continuation beyond that could push POL toward the $1 level over time. Traders are waiting for a strong volume breakout to confirm the shift.
Polygon Price Sees Fresh Upside
At the time of writing, POL trades at $0.2385 according to CoinGecko. That marks a 9.21 percent increase in the last 24 hours. The weekly gain stands at 8.29 percent, showing steady buying pressure.
Price has already touched the neckline, making this a critical level to watch. Traders are looking for a decisive push through with increased volume. That would turn resistance into support and set the stage for the next rally.
The current chart suggests more than just a short-term bounce. The double bottom structure combined with the neckline test shows a classic reversal setup. If POL clears this zone, it may kick off a longer bullish cycle, targeting moves above $0.3, extending to $1.
