Polygon is experiencing a surge in price, with POL climbing nearly 13% today and trading around $0.2750. The momentum has been building all week, fueled by strong fundamentals and technical developments. Analysts are optimistic about a potential breakout as volume increases and sentiment becomes more bullish. Why the Price Jump? 1. Strong Fundamentals: Polygon’s Total Value Locked (TVL) has surged 43% since January, reaching $1.23 billion. DeFi protocols like QuickSwap are attracting new inflows, and stablecoin usage is hitting all-time highs. In July alone, the network processed over $2.56 billion in stablecoin payments, with USDC active addresses exceeding 3.16 million. 2. The MATIC→POL Migration: This nearly complete transition brings Polygon closer to its vision of unifying the ecosystem under one token. More than 97% of the MATIC→POL technical upgrade is now completed. 3. Charting a Breakout: The price action on the daily chart reveals a strong potential for a breakout. After months of being stuck below resistance, POL has finally consolidated near it and volume is building, suggesting a possible upward movement. A break above this resistance could lead to a substantial rally, potentially doubling the price in weeks. 4. Community Buzz: Polygon co-founder Sandeep Nailwal’s upcoming AMA may provide further insights into the project’s future, which could maintain momentum. Despite some profit-taking with $263K in spot selling and a drop in derivatives open interest of $9.88M, the overall bullish outlook remains intact. While this market surge is promising, it’s crucial to watch for the crucial breakout above resistance, which can signal a significant price move.