Polygon (POL) has experienced a sustainable upward trend to reach a new peak

Polygon (POL) has recorded a sustainable upward trend reaching a new peak, currently trading around $0.55 with an increase of 17.59% in a day. From a local bottom of $0.35, POL has seen impressive growth with a weekly increase rate of 34.38% and a monthly increase of 51.88%.

On-chain activity also shows a positive increase with the number of active addresses, trading volume, and whale activity all rising. This increase is often viewed as a sign of growing interest and participation in the market, contributing to a positive outlook for POL.

Despite signs of potential growth, some analysts also caution about the possibility of a price correction that could occur amid pressure from whales dumping a significant amount of tokens. However, if POL can maintain support levels around $0.375 to $0.386, the upward momentum could open up opportunities for even stronger breakouts in the future.