Polygon price, formerly known as MATIC, is poised to join the altcoin market rally with a potential 50% breakout on the technical chart. Despite facing challenges in gaining traction earlier this year, the altcoin is now showing signs of resurgence with strong on-chain indicators and increased whale activity. The POL price has gained 7% in the last 24 hours, trading at $0.4442, and its market cap has crossed $3.5 billion. Daily trading volumes have also surged by 53% to $434 million, indicating strong bullish sentiment for Polygon.
Crypto market analysts are turning bullish on the POL price, expecting the rally to continue further. The altcoin has breached a significant resistance level on higher time frames, suggesting the potential for a major bullish rally. Traders are closely watching for a consolidation above the new resistance of $0.44, which could trigger further upward momentum and potentially lead to a 50% rally moving forward. Strong volume and growing investor interest are also positive indicators for Polygon’s price movement.
In the last four days, Polygon whales have accumulated 140 million POL tokens, worth over $56 million, signaling strong support at the critical zone between $0.375 and $0.386. If this level holds, the altcoin is likely to experience higher price levels as resistance is expected to remain weak. Additionally, Polygon has seen a surge in on-chain activity, including an increase in daily active addresses and transaction volume, pointing towards growing market interest and participation. These metrics reinforce a bullish outlook for POL in the near term.
Investors should pay close attention to Polygon price movements amid the ongoing altcoin market rally, as the altcoin shows promising signs of a breakout and potential price surge. With strong on-chain indicators, increased whale activity, and growing investor interest, Polygon is poised for further upward momentum and could potentially see a significant price rally in the near future. Traders are advised to monitor key levels and possible consolidation patterns to capitalize on the expected price movement in Polygon.
In conclusion, Polygon price is positioned for a breakout in the altcoin market, with strong indicators and whale activity supporting a potential 50% rally. The altcoin’s recent surge in price, trading volume, and on-chain activity signal growing market interest and positive momentum. Investors and traders should closely monitor Polygon’s price movements and key levels to capitalize on the expected bullish trend. As the altcoin market continues to rally, Polygon stands out as a promising investment opportunity with the potential for significant price gains in the coming days.
