POL’s price has seen a significant surge, jumping over 12% to trade near $0.21. Daily trading volume surged by more than 72.74%. This move comes amidst an overall market recovery, with the crypto market cap reaching $2.75 trillion. Leading cryptocurrencies, Bitcoin and Ethereum, have remained relatively stable within their recent ranges. In contrast, POL (previously MATIC) has emerged as a top gainer list mover, posting a remarkable 12.15% gain. 📈 💰 📈
The asset began the day at $0.1956 and surged toward $0.2219 before encountering resistance. If sustained, this bullish momentum could kickstart a rally. At press time, POL is trading around $0.2196 with trading volume surging to over $152 million.
Over the past seven days, POL has recorded gains exceeding 18.12%. The asset opened the week at $0.1771, but a bullish wave from mid-week propelled it to its current level.
Technical analysis shows signs of ongoing bullish sentiment.
– The Moving Average Convergence Divergence (MACD) line crossed over the signal line, indicating buying pressure and potential for further upside.
– The Chaikin Money Flow (CMF) indicator at 0.20 suggests a strong inflow of capital with powerful bullish momentum.
The asset is currently showing bullish signals on its chart, possibly reaching $0.2256 if the momentum holds.
– A sustained rally could initiate a golden cross, pushing price to $0.23. ⬆️
– However, bears may emerge if the asset encounters resistance at the $0.2060 mark and experiences a correction back down towards $0.19 or even lower.
– The overbought market sentiment is evident with RSI at 80.23 and BBP value of 0.0350, indicating a potential pullback.
Disclaimer: This article’s opinions are solely the author’s and do not constitute financial advice. All investors should conduct their own thorough research before making any investment decisions.