• POL trades at $0.27 with a 0.94% daily gain, while trading volume surged 72.56% to $705.56 million.
• The coin gained 14.64% over the past week, reflecting strong momentum and rising trader participation.
• Key levels show support near $0.26 and resistance at $0.29, shaping POL’s short-term market direction.

Polygon (POL) is currently trading at $0.27, up 0.94% over the past 24 hours. The trading activity has increased rapidly in the market, with volume growing by 72.56% and currently standing at $705.56 million. This spike shows increased interest and a significant change in market sentiment towards the coin.

Source: CoinMarketCap

In the last week, POL has risen by 14.64%. The steady upward movement reflects not only increasing momentum but also significant trader participation. This popularity further reinforces the coin’s market position by demonstrating that it continues to garner attention.

POL Price Tests Critical Support and Resistance Levels

Crypto analyst Gemxbt highlighted that there is resistance around $0.29 and support around $0.26. However, the MACD crossover is bearish, and the RSI is trending downward. These are signs of potential short-term pressure. Concurrently, price peaks have consistently occurred in conjunction with volume surges. This indicates traders are active at key levels and responding to every move.

Source: X

Also Read: Ethereum Rally Tested: Analysts Warn of $4K Retest Despite Whale Accumulation

Moreover, another analyst, Alpha Crypto Signal, revealed that POL broke through a symmetrical triangle pattern supported by solid trading volume. The increase in volume validated the breakout, indicating a definite change in trend. This move came after a number of resistance tests that had set the stage for the bullish momentum in the market.

Analysts pointed out that the breakout level now becomes a strong support level. If this level is maintained, the coin can continue its upward movement. The setup is interpreted as a possible continuation of POL’s bullish structure, and market watchers expect further gains as long as the trend holds.

Source: X

Open Interest Rises as POL Trading Volume Surges

CoinGlass data shows that trading volume increased by 140.12% to $802.13 million. Open interest rose 4.04% to $169.48 million. The OI-weighted funding rate is currently 0.0040%. Increased open interest and higher volume indicate that spot and derivative traders are positioning. This is an indication of overall confidence in POL’s recent performance.

Source: CoinGlass

The short-term outlook is both promising and risky. Support at $0.26 will be watched closely. A breakdown of bullish sentiment could be tested. Traders are going to aim for the next resistance level of $0.29. A breakout above this line would probably confirm further upside. Traders are still watching these levels for the next decisive move.

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