#Polygon ($POL ) has excited its investors with its technical structure despite the recent decline.
Due to the writing of the news, POL is trading at $ 0.3682 with a market value of over $ 2.8 billion. Due to the price decline that has been going on for a while, a large part of the accumulation has been at a loss. 10,300 POL addresses are in profit and this is only a fraction of 1 percent of the total income. However, the bullish formation formed in the POL chart has started hopeful applications for the rise.
The formation that excites POL investors is that while the supply in POL's exchanges has decreased, the supply of the exchanges abroad has increased. According to the data in question, the buying pressure is increasing. POL, which was distributed at $ 0.360 due to the writing of the news, says days to the breakout. A sharp pricing can be expected according to the directions of the triangle structure breakout. Considering that Bitcoin has exceeded $ 65,000, it can be expected that the breakout in the popular altcoin will be upward. In such a scenario, the $0.50 region can be targeted first.
The increase in Bitcoin dominance, ETH's failure to exceed $2500, or negative developments in the Polygon ecosystem will pull the price down. In such a scenario, a reaction can first be expected from the lower band of the triangle ($0.30). Afterwards, the $0.25 and $0.20 levels can be followed as support.
In addition to these, it will be useful to follow onchain. The increasing number of profitable addresses may indicate that the parity may be bullish. The increase in losing addresses will mean that the price has not been able to break the selling pressure
