Polygon (POL) Daily Chart Breakdown Targeting $0.178 Resistance

Major League Soccer (MLS) has officially partnered with Polymarket to launch prediction markets for the 2026 season. This includes events such as the MLS Cup, All-Star Game, and Leagues Cup.

The league will oversee market integrity and regulate which bets are allowed, following compliance rules with third-party firms like IC360 and Sportradar. Players and staff are barred from trading or betting.

The move makes MLS one of the first major sports leagues to integrate crypto-backed prediction markets. Polymarket becomes the exclusive partner for fan engagement initiatives, marketing, and interactive betting.

The development signals growing mainstream adoption of blockchain-based sports prediction markets while maintaining regulatory oversight.

POL Token Extends Bearish Trend

Meanwhile, the token continues to trade in a firmly bearish structure on the daily timeframe. The token is below all key exponential moving averages: EMA 20 at $0.1307, EMA 50 at $0.1324, EMA 100 at $0.1408, and EMA 200 at $0.1786. According to the TradingView chart, the recent January rally from $0.11 to $0.17 failed, creating a lower high and resuming the downtrend.

Bollinger Bands indicate that the token is moving closer to the lower band, which is a sign of strong resistance. Consistent falls from EMA points strengthen the strong overhead resistance.

Key support lies between $0.115 and $0.112, while further selling targets are $0.105 to $0.100. Resistance levels are $0.125 to $0.130, $0.146 to $0.150, and a strong macro barrier at $0.178.

Pullbacks Likely Corrective, Not Trend-Reversal

The Relative Strength Index (RSI) is hovering around 38, below the 50 level, indicating that the sellers are still in a stronger position, as per tradingview chart.

The previous attempt to break above 70 was unsuccessful, and the steady decline indicates that there is a strong possibility of further decline before the oversold region is reached.

The MACD has produced a bearish crossover, with the MACD line at around -0.0040, the signal line at -0.00225, and the histogram parked in the negative region at 0.00175. Such a configuration further reinforces the view that the bearish trend is likely to continue, with any pullback being merely a corrective move.

Why This Matters

The POL traders are still grappling with the risk of losses due to the bearish momentum that persists, indicating that losses will continue even as the short-term gains are mere corrections in the trend.

The entry of MLS into the Polymarket prediction markets indicates an increase in the use of blockchain technology in sports.

Also Read: Polygon (POL) Falling Wedge Forms: Is a Breakout Above $0.17 Next?