The POL token has been experiencing some bullish developments. As a result, it currently ranks second on the list of best-performing cryptocurrencies at the time of writing. Its price chart also reflects strong buying activity in the market.
Prev. MATIC Statistics
Current Price: $0.2009
Market Capitalization: $2.09B
Circulating Supply: 10.46B
Total Supply: 10.46B
CoinMarketCap Rank: 40
Key Price Levels:
Resistance: $0.2500, $0.3000, $0.3500
Support: $0.1900, $0.1500, $0.1100
POL Bulls Are Pushing Limits Yet Stay Refreshed
On the daily chart, the Prev. The MATIC token has been on a five-day winning streak. As a result, the current price candle is extending beyond the upper limit of the Bollinger Bands (BB) indicator. Interestingly, the latest price candle remains green and lacks an upper shadow, suggesting strong bullish momentum.
Technically, this indicates a sustained upside move. At the same time, the Smoothed Rate of Change (SROC) indicator remains below the equilibrium level, with its terminal end pointing upward, signaling a potential approach toward equilibrium and increased bullish strength.
POL (prev. MATIC) Shows Growing Momentum
On the POL 4-hour chart, the most recent price candle is pressing against the upper band of the BB indicator. Notably, the candle shows a lower shadow but lacks an upper shadow, indicating that bullish forces continue to dominate the market.
The SROC indicator is also climbing above the equilibrium level, reinforcing the bullish sentiment. Consequently, the market appears primed for further gains, possibly targeting the $0.2200 price mark.
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