Key points
- POL is among the top 50 performers, rising more than 5% in the past 24 hours.
- The coin could advance toward resistance at $0.265 if momentum continues.
Polygon’s POL Outperforms Market, Reaches $0.23
POL, the native token of the Polygon ecosystem, has been one of the stronger performers among the top 50 cryptocurrencies by market capitalization. Over the last 24 hours, the token gained more than 5% and is now trading above $0.23.
There is no single catalyst behind POL’s rise; the move appears tied to a broader market recovery. The crypto market was bearish earlier in the week but has shown signs of reversal after posting positive gains in the last 24 hours.
Bitcoin reclaimed the $115k level, while Ether is once again testing resistance around $3,730. XRP trades near $3, and other major altcoins are also in positive territory.
POL has slipped out of the top 20 by market cap and now ranks 41st, but Polygon remains one of the prominent projects in the crypto space.
POL Could Reach a High of $0.265
The 4-hour POL/USD chart shows a bullish bias, albeit with possible inefficiencies that could prompt a short-term pullback to capture liquidity before a higher move. An inefficiency exists near $0.22, and POL could dip toward that area in the coming hours before resuming its rally.
Technical indicators look constructive, suggesting buyers currently control the market. The RSI sits around 68, indicating buying pressure but not yet overbought, which leaves room for further gains. MACD lines remain in positive territory, reinforcing the bullish tilt.
If the rally continues, POL could test the July high of $0.265 within the next few hours. A sustained bullish run could push POL toward $0.30 for the first time since March.
Still, the market may face a correction that tests lower support zones. In that event, POL could revisit strong support and the TLQ near $0.2086.