- POL price is increased by almost 9% in last 24 hours showcasing bullishness.
- On chain data shows rising TVL indicating increased confidence in the network.
The native token of the Polygon network, POL (previously MATIC), is showing strong technical performance as it breaks through key moving average resistance levels, which is a possible indication of a trend reversal. The altcoin has also managed to break above the 50-day EMA at $0.2149 and the 200-day EMA at $0.2177, and has created a definite bullish impulse that has attracted the interest of technical analysts.
The price action shows a typical higher-high formation, which shows that the market participants are under sustained buying pressure. This bullish trend is especially important because POL is nearing the short-term resistance level of $0.2639, which can bring about a 14% rise in price.
The technical arrangement looks strong, and the two exponential moving averages have started to curve upwards, and the formation of a golden cross is imminent. This is a very bullish indicator that happens when the shorter moving average crosses above the longer one.
This positive sentiment is backed up by the Relative Strength Index (RSI), which is at 65, indicating that it is in the bullish zone and still has a way to go before it enters the overbought zone. The MACD indicator has now become positive, and this indicates the change in momentum and justifies the recent breakout above the major resistance levels.
On Chain Growth Gave Boost To POL Price
In addition to technical indicators, there is an equally strong picture on fundamental metrics. On-chain data indicates that Total Value Locked (TVL) has been experiencing impressive growth, having increased by 77% since March 11, 2025, when it was at $666.18 million, which is now increased to $1.18 billion on August 7. This is indicative of the rising adoption of the ecosystem and the increasing trust of the users. The TVL has been on an upward trend with a 1.43% growth in the last 24 hours, indicating that institutional and retail investors are still interested.
According to social sentiment analysis, there is a better perception in the market, as the community engagement and positive sentiment scores are on the rise. This combination of technical breakouts, the strengthening of fundamentals, and the better market sentiment provides a good background to further price increase.
To manage risks, traders are advised to watch important support areas at $0.2070 and $0.1901 as they will be important defensive areas in case of any pullback. Nevertheless, the technical setup is highly indicative that POL is ready to gain more to the $0.2639 level, and, in case the momentum gathers, it can be extended.
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