according to the website - By Yellow News
The price of the native Polygon token (POL) has increased by almost 3% over the last 24 hours, reaching $0.189 from $0.184. The trading volume amounted to 597,718 units, significantly exceeding the average daily figure of 189,000. According to the CoinDesk 20 index, the market value of the token has outperformed the overall cryptocurrency market, increasing by about 1.7% over the same period.
What you need to know:
The POL token has gained solid support in the price range from $0.183 to $0.184.
The trading volume of 597,718 units exceeded the average daily figures by more than 200%, indicating the participation of institutional investors.
The rally precedes the major hard fork Heimdall v2 from Polygon, scheduled for July 10, 2025.
Technical analysis indicates a strong foundation.
CoinDesk Research's technical analysis data shows that the token has formed constructive volatility patterns with a trading range of $0.0082, corresponding to a price change of 4.28%. Buyers have consistently appeared at support levels from $0.183 to $0.184, forming what analysts call areas of strong support.
The exceptional volume dynamics confirmed a successful breakthrough of the resistance level at $0.187. Technical indicators show a gradual increase in the lows in the range from $0.1890 to $0.1892, demonstrating the strength of the fundamental support that has sustained the recent price dynamics.
Resistance to overhead costs remains at $0.1897, forming a narrowed trading range. According to the analysis model, this pattern reflects market equilibrium conditions that typically precede a resolution of the direction of movement.
A major network update fuels market interest
The results of the token's growth anticipate the consensus level update of Polygon PoS, Heimdall v2, scheduled for July 10, 2025. The fund's CEO called the upcoming hard fork important for the network's development.
"This is the most technically complex hard fork that Polygon PoS has seen since its launch in 2020," he wrote in a post on X. The update represents an important technical milestone for the blockchain platform, which has attracted the attention of institutional investors in recent months.
Market participants seem to be preparing for the network update, as the increased trading volume indicates heightened participation of institutional investors during growth periods.
Conclusion
The POL token from Polygon has demonstrated high technical performance, gaining 3% due to exceptional trading volume of 597,718 units. This growth prepares the token for the most significant network update since 2020, and technical indicators suggest sustained interest from institutional investors in the platform's development.
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