With its recent price surge and significant developments in its ecosystem, many enthusiasts and investors are wondering whether Polygon (POL) is worth the money.
Polygon (POL) has seen a recent surge in its price, which has left many enthusiasts and investors curious about whether the token is worth the money. A recent prediction suggested that POL could see a potential price explosion, reaching an impressive $36.
In a noteworthy development, POL has seen an impressive surge of around 77.5% in the last 30 days.
This recent price action of the Polygon cryptocurrency was highlighted in a technical analysis shared by market expert Ali Martinez, who made an epic rise prediction for the POL token, suggesting a potential bullish rally to $15,27 or even $36,17.
The analysis noted that many investors who bought and hodled POL from the previous cycle are almost all in losses now. Only 15,11% of Polygon holders are in the green. However, according to the analysis, this is a positive sign for the cryptocurrency’s price action “as many will not be looking to book profits anytime soon.”
“Now, if we take a closer look at the on-chain activity, it appears that new investors are starting to step in. This is evident from the recent increase in Polygon $POL active addresses, transaction volume, and whale activity. And speaking of whales, they have been buying like crazy. They recently purchased over 140 million $POL.”
Since there is currently no major selling pressure and whales are buying, the technicals look very good, according to the expert. A weekly close above the $0,7973 zone could trigger a bullish rally for POL cryptocurrency to $15,27 or $36,17, the analysis suggests.
“I believe Polygon $POL is consolidating in a multi-year descending triangle, and a weekly close above $0,7973 could trigger a rally to $15,27 or $36,17! Even with this prediction, I like to keep my stop-loss. And trading history tells me that the most important support wall for Polygon $POL is between $0,375 and $0,386. Losing this demand zone will take me out of this trade.”
At the time of publication, Ploygon’s price was quoted at $0,5787, up 6.9% in the last 24 hours. In seven days, the cryptocurrency has appreciated by 39.6%.
