Key Insights
- Polygon price was trading in a falling wedge formation in the hourly timeframe, and a confirmed breakout could push the price toward $0.20.
- Whale “0x761” bought up 2.5M POL from Kraken, bringing their total holdings to 3M POL.
- Polygon PoS recently attracted $83.3M in 7D net inflows, propelling it into the top 10 Layer-2 tokens by market cap.
Polygon (POL) seems to be among the winners in the Ethereum (ETH) Layer 2 battle. The altcoin ranks second to Mantle (MNT) by capitalization. Its price action trades close to a key decision zone.
The language used by informed investors in the market is slowly shifting. Also, the network activity is supporting the bullish case for the Polygon price. The analysis will be expounding on the three signals that point to a potential upward move for the Polygon price.
Polygon Price Prediction: Bull Eye Breakout Toward $0.20
POL price was trading around the upper resistance of a clear falling wedge on the hourly chart. This outlook brought about the anticipation of a breakout, which could lead prices to higher levels.
Polygon price had bounced back from the lower boundary near $0.138–$0.140. Furthermore, it was trading around $0.148, which was close to the wedge resistance near $0.150.
A clean breakout and a close above this downward trendline would open up the possibility of price rallying to $0.165 at first. The longer-term target could be near $0.18, as it’s a two-week consolidation.
Still, the outlook was dependent on certain things playing out, other than technical indications. If the POL price got rejected at $0.150, it could reverse back below $0.142.
In that case, the bullish thesis would be wrong. Also, the risk of a retest of the wedge low, near $0.138 or lower, would go up.
Whale Action on POL Intensifies
While the price action was screaming bullish, whales were quietly loading. A whale purchased 2.501 million POL worth $361,670 from Kraken’s hot wallet.
He added 372.296 POL worth $53.53 in staking rewards. He expanded his POL collection significantly. This brought the total holdings to 2.963 million POL, worth $438,182 at press time.
The whale executed multiple “Buy Voucher” staking transactions worth 0.00037–0.00044 ETH. He also made reward withdrawals. He completed these activities over the past 23 days. This meant the whale was committed to long-term positioning.
More data showed mixed signals from whales. Top-tier holders with more than 1 billion POL have added 30 million tokens since January 1. However, the mid-tier holders with 10 million to 1 billion sold about 44 million POL tokens as they took profits.
This former action could make the Polygon price go up by lowering supply. As such, this action could support the potential to break past the $0.15 resistance level. On the other hand, mid-whale selling and market volatility could limit gains, tightening the stop at $0.15.
Polygon Weekly Net Inflows and Market Cap
In the meantime, Artemis data showed Polygon PoS led in weekly net inflows of about $75 million. This indicated that there was a strong belief in capital. However, the market was facing resistance at $0.15.
This put Polygon ahead of rivals like Hyperliquid and Base. The inflows showed that smart money was building up in the POL ecosystem.
These strong inflows could raise the POL price by making the network more valuable. Increased inflows make POL easier to trade. They attract more investors to the market and push the Polygon price toward new highs.
Conversely, if outflows start up again or L2 competition gets stronger, POL could go down or stay around the same level.
