|
Getting your Trinity Audio player ready...
|
- POL breaks above 50-day and 200-day EMAs, nearing a 14% price target.
- Polygon’s TVL surges 77% since March, signaling rising adoption.
- Key supports at $0.2070 and $0.1901 remain critical for trend continuation.
Polygon’s native token, POL (formerly MATIC), has triggered a strong bullish signal after breaking above critical moving average resistance levels. The altcoin surged past the 50-day EMA at $0.2149 and the 200-day EMA at $0.2177, igniting optimism for a potential trend reversal. This move formed a higher-high pattern, showing persistent buying pressure as POL approaches its short-term resistance of $0.2639 — a level that could unlock a 14% price gain.
Technical momentum is reinforced by a looming golden cross, a bullish signal where the shorter EMA overtakes the longer EMA. The Relative Strength Index (RSI) sits at 65, leaving room before overbought conditions, while the MACD has turned positive, supporting the case for further upside.
On-Chain Growth Strengthens Fundamentals
Beyond the charts, Polygon’s fundamentals are also improving. Data from DeFiLlama shows Total Value Locked (TVL) has grown 77% since March 11, 2025, rising from $666.18 million to $1.18 billion as of August 7. This surge reflects growing adoption of the Polygon ecosystem and increased investor trust.
TVL growth remains steady, with a 1.43% increase in the past 24 hours, signaling sustained institutional and retail participation. Positive social sentiment and higher community engagement further fuel the bullish outlook.
Also Read: Solana (SOL) & Polygon (POL): Your 2025 Guide to Maximize DeFi Yields with Staking & Bridging
Support Levels to Watch
While the current setup is optimistic, traders should monitor key support levels at $0.2070 and $0.1901 in case of market pullbacks. Holding these zones could help maintain bullish momentum toward $0.2639 and potentially beyond if buying pressure accelerates.
With technical indicators flashing bullish signals, on-chain metrics showing strong growth, and sentiment turning increasingly positive, POL appears well-positioned for a near-term rally. If momentum sustains, the altcoin could test — and possibly surpass — the $0.2639 resistance in the coming sessions.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
