An “Exceptional” Momentum for Polygon (POL)
The native token of Polygon, POL (formerly MATIC), has recorded a rise of nearly 3% over the past 24 hours, outperforming the overall market. This evolution follows the establishment of several solid support zones.
The token has moved from $0.184 to $0.20, showing an increase of 8% over the last two days. This progression is notably explained by “exceptional” trading activity, with volume exceeding 597,000 transactions, well above the daily average of 189,000.
Promising Technical Signals
Polygon’s technical landscape also displays encouraging signals. Analysts indeed note progressively higher lows, as well as price compression and a daily POC around $0.189, suggesting a possible trend reversal.
Currently, POL is preparing to attempt its breakout from the major bearish trendline and its 20 and 50-day moving averages. If the token manages to break through this resistance, it should continue its progression with a potential increase of 34% up to its 200-day MA at $0.28.
This positive technical momentum, associated with a massive influx of liquidity, suggests that the Polygon token could continue its upward trend in the coming weeks. Savvy crypto investors will undoubtedly keep a close eye on the upcoming developments of this flagship DeFi project.
How to Buy POL on Bitmart ?
A break of this resistance at $0.2797 could take POL towards the $0.50 zone and possibly to new highs if buyers continue to show up en masse. Here’s a guide to buying POL right now before its major breakout :
- Registration : Create an account on Bitmart with an email address and a secure password. Enable two-factor authentication (2FA) after email validation.
- KYC Verification : Submit an ID (passport or identity card) to pass the KYC verification, necessary to buy POL. This may take a few hours to a few days.
- Fund Deposit : In “Wallet”, select “Deposit”. Transfer a cryptocurrency (USDT, BTC, ETH) or fiat currency (if available) from an external wallet or via a bank payment.
- Buying POL : Go to “Markets”, search for the POL/USDT pair, then click on “Buy”. Indicate the amount and choose a market order (instant purchase) or limit order (fixed price). Confirm the transaction.
