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Looking at the latest data of the Polygon network, an interesting picture emerges. While there were 711 million transactions in the first quarter, the POL token is currently trading around $0.09. There was approximately a 6.6% increase over the past week, but today a slight decline was observed.
The activity within the Polygon ecosystem is truly impressive — compared to the previous period, there is nearly a 50% jump. This indicates a significant demand from users on the network. Its market capitalization is around $980 million. The token is still trading below some resistance levels.
When I analyze the technicals, I see that POL has formed a falling wedge pattern — which is generally a bullish signal. If the resistance at $0.10 and the 100-day moving average at $0.1053 are broken, a substantial move could be expected. The target is said to be at $0.2328. Otherwise, Polygon may continue its consolidation and find support around $0.08. For now, the network strength looks quite positive.