Polygon Price Breakout Imminent as 100 Million Token Burn Looms

Polygon (POL) has been trading in a strong bullish trend above its key moving averages, with a projected range of $0.1078 to $0.1172 over the next 2-3 days.

The price is currently near session highs, reflecting a clear upside bias, and has seen an increase of 7.42% over the past day.

The Polygon Foundation plans a permanent burn of 100 million POL tokens, which could reduce long-term supply and raise scarcity expectations.

However, momentum indicators are showing signs of being overbought, suggesting a short-term pullback risk.