The price of POL has increased by nearly 9% over the past 24 hours, indicating a bullish trend.
Series data shows an increase in TVL, indicating growing confidence in the network.
The original token of the Polygon network, POL (formerly MATIC), shows strong technical performance with its breakout above key moving average resistance levels, which is a potential indicator of a trend reversal. This altcoin has also successfully broken above the 50-day exponential moving average at $0.2149 and the 200-day exponential moving average at $0.2177, leading to a notable upward wave that has attracted the attention of technical analysts.
Price behavior shows a typical formation of higher peaks, indicating that market participants are experiencing continuous buying pressure. This upward trend is particularly significant as POL approaches the short-term resistance level at $0.2639, which could lead to a price increase of 14%.
Source: Tradingview
The technical situation appears strong, with the two exponential moving averages beginning to curve upwards, and a golden cross formation is imminent. This is a strong bullish indicator that occurs when the shorter moving average crosses above the longer moving average.
This positive sentiment is supported by the Relative Strength Index (RSI), which is at 65, indicating that it is in bullish territory and still has a long way to go before entering the overbought region. The MACD has turned positive, indicating a momentum change and justifying the recent breakout above key resistance levels.##اخبار_العملات #اقتصاد_المشفرة #wct #Notcoin $SOL