Polygon (POL), previously called MATIC, is experiencing a bullish breakout. Technical indicators and market data indicate a possible price increase. With more people using Polygon for Real World Assets (RWA) and a rise in Total Value Locked (TVL), the Polygon price could be on track to reach $0.35 in the next few days.
Polygon Price Breaks Out of Downtrend, Targets $0.35
The Polygon price action has recently flipped bullish after months of decline. According to crypto analyst World Of Charts, POL has broken above a long-standing descending trendline and is now testing an important resistance level.
The analyst suggests that if the resistance level is surpassed, $POL could rise to $0.35, showing strong short-term potential.
According to CoinMarketCap, POL has already increased by over 7% in the last 24 hours and is currently trading at approximately $0.2089.
Additionally, Polygon’s DeFi activity is growing, with the Total Value Locked (TVL) rising to $934 million, a 2.17% increase in the last 24 hours. DeFiLlama reports that the network saw $91.84 million in DEX volume and $3.57 million in perpetual trading volume during the same time. Active addresses climbed to nearly 460,000 in just one day, indicating heightened user interest.
These numbers indicate a healthy and expanding ecosystem, which is positive for Polygon’s price outlook. A network with strong DeFi involvement often experiences upward price movement, especially during technical breakouts, such as the one currently happening.
Polygon’s RWA Growth Signals Strong Fundamentals
Polygon isn’t just relying on price momentum. It’s gaining traction in the Real World Assets (RWA) sector, ranking as the second-largest blockchain in terms of RWA assets, just behind Ethereum.
According to RWA.xyz data, Polygon holds 251 RWA assets, securing a 2.7% market share in the tokenized real-world assets valued at $277.63 million.
This surge in RWA activity highlights increasing confidence in Polygon’s infrastructure, particularly for asset tokenization. Over the past month, Polygon’s RWA value increased by 1.96%, with the number of holders also slightly increasing.
Technical Analysis Shows Buy Signals for POL
A look at POL’s technical indicators reveals more bullish sentiment. TradingView’s daily technical summary for POL/USDT shows a “Buy” signal, with 11 indicators pointing to a buy, 10 neutral, and only 5 suggesting a sell.
Moving averages are primarily positive, with short-term Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs) indicating bullish momentum.
Oscillators like Momentum (10) and MACD (12, 26) also flash buy signals, supporting the case for further upside. However, some longer-term moving averages remain bearish, so resistance could emerge at higher levels, notably around $0.25 and $0.30, before the price moves toward the $0.35 target.
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