Polygon Price Eyes Massive 50% Breakout Amid POL Whale Activity
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The Polygon price is set to join the altcoin market rally eyeing a 50% breakout on the technical chart amid strong on-chain indicators and whale activity. Despite its rebranding from MATIC to POL, the altcoin struggled to gain traction amid strong Bitcoin and crypto market resurgence this year. However, investors are making fresh bets with POL resuming the upward trajectory.
Polygon Price Eyes Massive 50% BreakoutThe POL price has been on an upward trajectory gaining 7% in the last 24 hours, trading at $0.4442 with its market cap crossing $3.5 billion. Also, the daily trading volumes have surged by 53% shooting all the way to $434 million showing strong bullish sentiment for one of the top altcoins.
Crypto market analysts are turning bullish expecting the POL price rally to continue further from here. Popular crypto handle CryptoBull_360 reported the Polygon (POL) has successfully breached a significant resistance level on higher time frames (HTFs), signaling the potential for a major bullish rally.
As shown in the below image, the Polygon price is giving a breakout from the cup-and-handle pattern on a multi-year timeframe. Traders are looking for a strong consolidation over the new resistance of $0.44, as it could trigger further upward momentum. Holding above this can open the gates for a 50% rally moving ahead.
Additionally, strong volume indicates growing investor interest and positive momentum in the market. Some market analysts have also been suggesting a massive 3050% POL price rally moving ahead.
POL Whale Activity and On-Chain DataPopular crypto analyst Ali Martinez reported that in the last four days, POL whales have accumulated 140 million POL tokens, worth more than $56 million.
