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Polygon Token Surges 3% After Exceptional Volume Spike

Polygon Token Surges 3% After Exceptional Volume Spike

Polygon's native token POL climbed nearly 3% over the past 24 hours, reaching $0.189 from $0.184 with trading volume of 597,718 units that substantially exceeded the daily average of 189,000. The token outperformed the broader cryptocurrency market as measured by the CoinDesk 20 Index, which gained approximately 1.7% during the same period.


What to Know:

  • POL token established solid support foundations within the $0.183 to $0.184 price corridor
  • Trading volume of 597,718 units surpassed daily averages by more than 200%, indicating institutional engagement
  • The rally precedes Polygon's major Heimdall v2 hard fork scheduled for July 10, 2025

Technical Analysis Points to Strong Foundation

CoinDesk Research's technical analysis data shows the token built constructive volatility patterns with a trading range of $0.0082, representing 4.28% price movement. Buyers consistently emerged at support levels between $0.183 and $0.184, creating what analysts describe as solid foundation zones.

The exceptional volume activity confirmed successful penetration above the $0.187 resistance level. Technical indicators reveal progressive higher lows between $0.1890 and $0.1892, demonstrating foundational support strength that has sustained recent price action.

Overhead resistance persists around $0.1897, establishing a compressed trading band. This pattern reflects market equilibrium conditions that typically precede directional resolution, according to the analysis model.

Major Network Upgrade Drives Market Interest

The token's performance comes ahead of Polygon PoS's consensus layer upgrade, Heimdall v2, scheduled for July 10, 2025. The foundation's CEO described the upcoming hard fork as significant for the network's development trajectory.

"This is the most technically complex hard-fork Polygon PoS has seen since it's launch in 2020," he said in an X post. The upgrade represents a major technical milestone for the blockchain platform that has attracted institutional attention in recent months.

Market participants appear to be positioning ahead of the network upgrade, with the elevated trading volume suggesting heightened institutional engagement during the rally phases.

Closing Thoughts

Polygon's POL token demonstrated strong technical performance with 3% gains supported by exceptional trading volume of 597,718 units. The rally positions the token ahead of its most significant network upgrade since 2020, with technical indicators suggesting continued institutional interest in the platform's development.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.
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