Polygon Price Rallies 50% Amid On-Chain Demand, But Will it Last?
Polygon's native token (POL) surged over 50% due to steady on-chain demand, but cooling momentum and whale selling suggest a potential consolidation or correction.Summary
The native token of the Polygon network, POL, experienced a rally exceeding 50% in a week, supported by consistent on-chain demand, evidenced by steady daily unique addresses and rising transaction activity.
However, momentum is cooling, indicated by a hidden bearish divergence where the price forms lower highs while the Relative Strength Index (RSI) prints higher highs. This suggests the rally may pause.
Furthermore, large holders (whales) have been reducing their POL exposure since early January, while smaller, retail holders have been increasing their balances. The immediate price action will determine the next move: holding above the key support at $0.155 suggests consolidation, while a break below it could lead to a deeper correction toward $0.142 or $0.098.
(Source：BeInCrypto)