Ali Martinez likes to dive in into details when it comes to popular coins and make viral and shocking price predictions. His most latest one is about Polygon (POL).
The crypto landscape for Polygon tells a compelling story of potential. Currently, 81.60% of POL holders are ‘out of the money’, with only 15.11% in profit. This unusual scenario could actually signal an impending disbelief rally. On-chain metrics are showing promising signs – daily active addresses, transaction volume, and whale activity are all on the rise. Notably, whales have been particularly aggressive, recently purchasing over 140 million POL tokens.
Digging into the numbers reveals some fascinating insights. Whales have been quietly but aggressively accumulating, scooping up over 140 million POL tokens. The on-chain metrics are showing signs of life too – more active addresses, increased transaction volume, and notable whale activity are painting an intriguing picture.
Martinez’s technical analysis suggests Polygon is consolidating in a multi-year descending triangle. The MACD indicator is showing intriguing signals, with potential crossover points suggesting a possible trend reversal. The multi-year descending triangle pattern is particularly significant, with the converging trendlines creating a compression zone that could lead to a breakout.
Polygon (POL) Price Forecast
The critical breakthrough point is a weekly close above $0.7973, which could potentially trigger a significant Polygon price movement targeting ranges between $15.27 and $36.17. However, traders should remain cautious of the key support zone between $0.375 and $0.386, which could be a crucial determining factor for future price action.
But here’s where smart investing comes in. Every seasoned trader knows the importance of risk management. For POL, the critical support zone sits between $0.375 and $0.386. Dropping below this could be a serious warning sign for investors.
Read also: Break Out from This Key Level Could Kickstart 16x Rally for Stellar (XLM) Price: Top Analyst
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