Polygon falls as bounce attempts stall near upper range

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Polygon falls 8.65% to $0.0689 today

Highlights

Upbit Staking leads globally for Polygon with 413.17 million POL delegated, indicating heightened network participation and ecosystem engagement.
Heavy staking activity has locked a significant proportion of POL, contributing to reduced short-term liquidity amid ongoing selling pressure.
POL/USD remains in a strong bearish trend, trading near $0.0689 with downside momentum overwhelming, and the next expected price range is $0.066 to $0.0744.

Staking-led liquidity shift as user participation expands on Polygon

Upbit Staking has achieved the highest global ranking on the Polygon network by delegated staking volume, with approximately 413.17 million POL staked through its platform as of June 23, according to En Bloomingbit. This milestone reflects increased user participation and a significant portion of POL being locked up in staking contracts, which may influence short-term liquidity and trading dynamics. While the event underscores growing utility and active engagement within the Polygon ecosystem, price action has remained under broader selling pressure.

Oversold momentum and downside bias with resistance at technical benchmarks

Technical analysis reveals that POL/USD is below the 20-day, 50-day, and 200-day moving averages at $0.0732, $0.0754, and $0.1017, respectively, highlighting consistent downside across all observed timeframes. The Ichimoku Kijun line at $0.074 is acting as near-term resistance. Relative Strength Index (RSI), Stochastic RSI, and Commodity Channel Index (CCI) are all in oversold territory. Momentum readings from the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) indicate a strong sell bias, while the Bull/Bear Power signals clear seller dominance during intraday sessions. The Awesome Oscillator continues to confirm the established downward trend without any divergence present among oscillators.

Further declines likely as range trading dominates near-term outlook

Over the next two to three trading days, POL/USD is expected to oscillate between $0.066 and $0.0744, with a high likelihood of continued downside and a low probability of reversal. The baseline scenario suggests price will remain largely rangebound between current support and resistance levels. A move above $0.074 could open the door for a recovery scenario, while a sustained drop below $0.066 would likely trigger additional selling and further declines.

Viktoras Karapetjanc, expert at Traders Union, notes the robust engagement on the Polygon network reflected by Upbit Staking’s record delegated volume. He believes this institutional involvement shows growing utility and could eventually support sentiment, despite the current technical weakness. Karapetjanc sees the persistent downside bias as primarily momentum-driven for now, but considers the long-term adoption trend promising. In his view, the $0.066–$0.0744 range is likely to hold short term, with structure improving above $0.074. "Strong fundamentals are forming beneath the surface — I would watch for signs of accumulation if selling exhausts near current lows."

Earlier, analysts noted that Polygon’s persistent bearish momentum was reinforced by deepening oversold conditions and concentrated staking activity on Upbit. The latest price action not only confirms this ongoing downside pressure but also places added significance on the $0.066 support as the key level traders should monitor for potential risk escalation in the near term.

Source of Data: POL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.