POL, formerly known as MATIC, is the native cryptocurrency of the Polygon network, which aims to improve scalability and reduce transaction costs on the Ethereum network.
Technical analysis on the daily frame:
According to available analysis, the daily chart of the POL/USDT pair on the BingX platform shows that the coin is trading within a specific range. Moving averages and technical indicators indicate a neutral state, which means that there is no clear trend towards the rise or fall at the moment.
Support and resistance levels:
Support: $0.507763
Resistance: $0.524434
Future outlook:
The outlook indicates that POL coin is likely to continue sideways trading in the short term, based on current technical indicators. However, future developments in the Polygon network and its increasing adoption may affect the coin’s performance in the long term.
Conclusion:
POL coin is an essential part of the Polygon ecosystem, which seeks to improve the user experience on the Ethereum network by providing faster and lower-cost transactions. Despite the current market challenges, the ongoing developments in the Polygon project may positively impact the value of the coin in the future.
#POLKADOT'S