Polygon price prediction: Support pressure builds after token burn not executed

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Polygon drops 7.44% today to $0.1008

Highlights

Polygon co-founder Sandeep Nailwal proposed burning 100 million POL tokens, about 1% of circulating supply, but final governance approval is still pending.
No on-chain token burn has been confirmed as of September 23, 2026, with timing and final execution remaining uncertain under the Polygon Protocol Council.
POL/USD trades below key moving averages with technical indicators showing weak trend, seller exhaustion, and an expected price range of $0.0965 to $0.1059 over the next few days.

Supply outlook uncertain amid unconfirmed burn and pending governance

Polygon co-founder Sandeep Nailwal publicly called for burning 100 million POL tokens, equal to around 1% of the circulating supply, according to Spendnode. However, as of September 23, 2026, there has been no confirmed on-chain burn or finalized governance mandate, which leaves the timing and certainty of such a supply reduction unsettled. The process remains subject to final governance approvals and is expected to be overseen by the Polygon Protocol Council with contracts staged for deployment, as reported by Alearesearch Substack.

Seller exhaustion grows as technical barriers reinforce downtrend

POL is trading below the MA-20 at $0.1076 and MA-50 at $0.1088, indicating persistent selling pressure in both the short and medium term. The price remains above the daily MA-200 at $0.088, suggesting that longer-term support is still in effect, while the Ichimoku Kijun at $0.1067 serves as immediate resistance. MACD signals a sell bias and ADX shows neutral momentum, reflecting a lack of strong directional trend despite short-term weakness. RSI sits at 27.3, with Stoch RSI and CCI both deep in oversold territory, highlighting pronounced downside exhaustion by sellers. Bull/Bear Power continues to indicate seller control intraday, and the Awesome Oscillator supports the prospect of further declines.

Volatility expected to persist as downside risk dominates outlook

Over the next 2 to 3 trading days, POL is expected to trade in a volatile range between $0.0965 and $0.1059. Downside risk remains elevated, with a very low probability of a sustained upward move. The most likely scenario is that the price consolidates within this band, while a decisive break above $0.1067 would be required to shift momentum to the upside. Conversely, a move below $0.0965 could open the way for further losses toward underlying support.

Viktoras Karapetjanc, expert at Traders Union, sees the pending Polygon token burn as a notable sentiment driver even though the actual supply impact remains undelivered. He notes that the absence of final governance approval and the lack of an on-chain burn contribute to market uncertainty, limiting the immediate bullish effect. Technically, the price still trades under key moving averages and momentum remains weak, though longer-term support holds. He believes the market could quickly shift once burn execution is confirmed. "If final governance signs off and the burn materializes, I expect sentiment to improve and buyers to return, but for now, caution is warranted until the on-chain event is visible."

Earlier, analysts noted that Polygon's outlook was supported by anticipated supply reductions and expanding network activity. The current price action, however, signals a shift toward near-term weakness, making the $0.0965 support an essential level for traders to monitor in case further declines develop.

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.