---
title: "Polygon price slowly forms a bullish pattern as stablecoin growth surges"
url: https://diffcoin.com/polygon-price-slowly-forms-a-bullish-pattern-as-stablecoin-growth-surges/
description: "Polygon price has crashed in the past few days and is slowly forming a double-bottom pattern, pointing to a potential rebound as stablecoins surge"
published: 2025-06-23
updated: 2025-06-23
author: "Mila"
site: "Diffcoin"
---

# Polygon price slowly forms a bullish pattern as stablecoin growth surges

Polygon price continued its downward trend on Monday, June 23, dropping to its lowest level since April 9.

Polygon (POL) plunged to a low of $0.1732, mirroring the broader sell-off in altcoins. The token is now down more than 77% from its December 2023 high.

The sell-off in Polygon comes amid a broader crypto market downturn and the network’s declining market share to rising competitors like Base and Arbitrum. For instance, decentralized exchanges on Polygon processed $3.82 billion in transactions over the last 30 days.

By comparison, Coinbase’s Base chain handled over $29 billion during the same period, while Arbitrum recorded $18.9 billion. Newer layer-1 blockchains such as Hyperliquid and Sui have also overtaken Polygon in terms of DEX volume.

On a more positive note, Polygon has shown strong growth in the booming stablecoin sector. Its stablecoin supply has jumped 10% over the last 30 days to more than $2.3 billion.

Supporting this, the number of stablecoin transactions on Polygon jumped 44% to 81.1 million during the same period. The adjusted transaction volume surged 35% to $52 billion, positioning Polygon as one of the leading chains in stablecoin activity.

Most of this activity has come via Binance, followed by Polymarket, the popular prediction market platform.

## Polygon price technical analysis

![Polygon price](https://crypto.news/app/uploads/2025/06/Polygon-price-1.png)

POL price chart | Source: crypto.news

The daily chart shows that POL bottomed at $0.1500 in April and rebounded to a high of $0.2754 on May 11. Since then, the price has retreated and broken below the 50-day moving average.

Polygon is now approaching a critical support level at $0.1500, suggesting it may be forming a double-bottom pattern, a common bullish reversal signal.

If the price holds above this level and begins to bounce, the next upside target would be the neckline around $0.2757. However, a decisive drop below $0.1500 would invalidate the bullish setup and potentially trigger further downside.

[Source link](https://crypto.news/polygon-price-slowly-forms-a-bullish-pattern-as-stablecoin-growth-surges/)