Focus on Polygon's Revival: Crucial Levels Influencing POL's Future Course
In the vibrant world of cryptocurrencies, Polygon (POL) has been making waves, particularly in Singapore's financial landscape. One analyst has highlighted its rising importance, citing a series of positive indicators.
The Relative Strength Index (RSI) for Polygon has climbed to 61, a sign of firm upward momentum. This suggests that Polygon might be on an uptrend, though heavy profit-taking hints at potential turbulence.
Polygon has emerged as a hub for stablecoin activity, with large XSGD transfers over the past four months, ranging from $66 million to $94 million. This activity underscores Polygon's growing role in the stablecoin sector.
Analysts attribute the growth in Polygon's activity to the recent Polygon Proof-of-Stake (PoS) upgrade for USDT. As a result, Polygon has taken the lead in USDT transfers, surpassing competitors like Arbitrum.
The surge in accumulation indicates that traders see opportunity at lower levels and are eager to stake positions. On August 18th, Sealunch data showed 780,000 transacting addresses on Polygon, significantly more than Arbitrum's 492,000.
As Polygon's price rebounded, it showcased the strength of its demand-driven recovery. The token rallied to a three-month peak of $0.2736 after defending support at $0.23. Traders are now looking towards $0.28 as the first resistance for POL.
The Directional Movement Index (DMI) highlights buyer strength, with the positive line outpacing the negative. As POL dipped near $0.23, accumulation surged, with buy volume outpacing sell volume and producing a positive buy-sell delta of 16.1 million.
Polygon's blockchain activity has expanded by 25%, with active addresses increasing to 665,000 and daily transactions reaching 4 million. The trading volume leaped 34% to $315.7 million, reflecting increased interest in the network.
However, if buyers falter, support near $0.247 becomes crucial for POL. A drop below this level could shift sentiment and undo recent gains for the token. On the other hand, breaking above $0.28 could unleash momentum toward $0.30, a level not seen in months. The two levels of $0.28 (resistance) and $0.247 (support) could shape whether POL continues climbing or faces another correction.
Elsewhere, Binance Coin (BNB) has experienced a significant increase in active addresses and transaction volume since April 2025. With active daily addresses rising to about 2.07 million and daily transactions surpassing 11.77 million, it indicates a growing network demand for BNB as well.
In conclusion, Polygon's rising importance in Singapore's financial landscape is backed by a series of positive indicators. As the token continues to gain momentum, investors and traders will be watching closely to see if it can break through the $0.28 resistance and continue its upward trajectory.
