Popular crypto analyst Ali Martinez shared an interesting news for POL holders. According to the chart he provided, large Polygon (POL) investors, referred to as “whales,” have purchased over 59 million POL in the last 48 hours.
The chart shows the price action of POL over the past several days. It’s been quite volatile, with big swings up and down. But the overall trend is looking bullish, with the price breaking through previous resistance levels and hitting new highs.
When you take a closer look, you can see there are several support zones on the chart. These are the areas where the price consolidated and found buying pressure, before bouncing back up. This suggests strong demand for POL at those levels.
The chart also has a few notable technical lines. The blue lines appear to be volume profile lines, indicating high trading volume in those areas. And the green and red candles represent the positive and negative price movements respectively.
Interestingly, the POL price has actually pumped 26% in the last 7 days and is now trading around $0.55. It held up well even during the market correction this week, showing some resilience.
Looking at the indicators, the RSI is at 54 and the MACD line just crossed above the signal line. This paints a pretty bullish picture. If the momentum continues, the Polygon price could potentially revisit the $0.7 zone.
This massive buying activity by the whales, to the tune of over 59 million POL in just 48 hours, is a very bullish sign. It suggests the big money investors are confident about Polygon’s long-term prospects. Historically, such whale accumulation often precedes further price appreciation. So POL holders may have reasons to be optimistic going forward.
Read also: Render (RNDR) and ONDO Prices Break Key Resistances: New All-Time Highs Next if These Supports Hold
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
