Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Polygon Price Analysis: Can Bullish Sentiment Take POL Above Key Resistance?
ALTCOIN NEWS

Polygon Price Analysis: Can Bullish Sentiment Take POL Above Key Resistance?

By Crypto FlexsOctober 23, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Polygon Price Analysis: Can Bullish Sentiment Take POL Above Key Resistance?
Share
Facebook Twitter LinkedIn Pinterest Email
  • POL is consolidating within a bearish channel as bullish sentiment builds despite recent price stagnation.
  • On-chain indicators such as active addresses and stable futures funding ratio support the possibility of a breakout.

POL (formerly MATIC) Both crowd and smart money indicators are experiencing notable shifts in market sentiment that signal growing optimism.

Herd sentiment is at 0.95 and smart money is at an impressive 3.00. This bullish sentiment, combined with increasing network activity, could lead to significant moves.

However, POL’s price action has not yet broken out of the consolidation phase. At press time, Polygon is trading at $0.3636, down 2.49%, leaving investors questioning whether this positive sentiment will lead to a sustained rally.

POL Technical Analysis: Is a Breakout Imminent?

Polygon’s price action continues to move within a downward channel and is struggling to break out of a consolidation phase between $0.4477 and $0.5761. Moreover, recent candlestick patterns indicate that POL is approaching a critical point.

So the next move could determine whether it bounces back or continues to consolidate. A break above the $0.4477 level is crucial for upward momentum.

MATIC chart analysis

Source: TradingView

The Stochastic RSI, currently at 32.65, suggests that POL is near oversold territory, suggesting potential buying pressure in the near future.

MACD also shows a neutral signal with minimal difference between MACD and the signal line, further indicating that POL may consolidate before making a decisive move.

MATIC technical analysisMATIC technical analysis

Source: TradingView

On-chain metrics: increase in active addresses and transactions

Interestingly, Polygon’s underlying on-chain data continues to attract interest. According to CryproQuant, in the last 24 hours, active addresses increased by 0.96% and number of transactions increased by 0.86% to 2.49K.

This gradual increase in network activity could indicate new user interest, supporting the current optimistic outlook.

However, absent a stronger upward price movement, this uptick may not be enough to maintain bullish momentum over the long term.

Source: CryptoQuant

POL OI Weighted Funding Rate: Neutral but likely

Looking at the futures market, the POL OI weighted funding ratio is steadily maintained at 0.0100%. As a result, this neutral rate suggests that neither bulls nor bears are currently exerting significant pressure.

However, changes in this funding rate can signal a change in momentum, especially if they coincide with increasingly bullish smart money sentiment.

Source: Coinglass


Is your portfolio green? Check out our POL Profit Calculator


Polygon’s bullish sentiment is clear, especially from a smart money perspective. However, the question is whether the price can break the resistance level of $0.4477.

If POL can break out, we see significant upside potential. But until then, caution is needed as prices are locked in the consolidation phase.

Next: Dogecoin Reflects Key 2020 Patterns, Which Means DOGE Now…

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

‘Fat Apps’ can lead the cryptographic story in the next few months.

September 11, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025
Add A Comment

Comments are closed.

Recent Posts

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025

Stablecoin Holdings Drop As Investors Pivot To SOL, XRP, And Altcoins

September 17, 2025

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

How XRP Enthusiasts Can Earn $15k/Day

September 16, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025
Most Popular

KyberSwap’s response to $48.8 million hack: Halve workforce and plan to compensate victims

December 27, 2023

NVIDIA: Street Fighter 6 and XDefiant join GeForce NOW

June 6, 2024

US officials warn of AI’s role in cybercrime

January 11, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.