9h00 ▪
3
min reading ▪ by
Fenelon L.
Crypto analyst Ali Martinez identifies three technical signals suggesting a potential major rise in the price of Polygon (POL), despite overall pessimistic market sentiment. This forecast comes as the token already shows an increase of 17% over the last month.
Technical indicators converge towards a recovery
Polygon (POL) price is currently trading at $0.4375, marking an increase of 1.65% over 24 hours. Technical analysis expert Ali Martinez highlights three key elements supporting a recovery scenario: a validated rebound on the chart triangle axis, a bullish crossover of the stochastic oscillator, and a MACD preparing to generate a signal buying on the bi-weekly chart.
This cocktail of technical indicators could catalyze what Martinez calls the “hated rally” – a rise in prices occurring while the majority of investors remain skeptical, causing them to miss the first phases of the upward movement.
The analyst emphasizes that this type of configuration is particularly interesting because it often allows superior returns to be generated, as the market frequently moves against the prevailing sentiment.
On-chain data confirms crypto accumulation
Blockchain metrics support this optimistic outlook. The POL supply ratio on exchanges fell to 0.0072, its lowest level in three months, signaling an accumulation movement on the part of investors withdrawing their tokens from exchanges.
Even more revealing, the net flow ratio of “whales” fell from +3917% to -55%, indicating that large holders are intensifying their purchases by massively withdrawing their POL from trading platforms. Historically, this behavior often precedes phases of significant increases.
If this dynamic is confirmed, the next technical objective is located at $0.46, before a major resistance zone around $0.57 which will require a significant trading volume to be exceeded.
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Fenelon L.
Passionate about Bitcoin, I like to explore the intricacies of blockchain and cryptos and I share my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.
DISCLAIMER
The comments and opinions expressed in this article are those of the author alone, and should not be considered investment advice. Do your own research before making any investment decisions.
