POL: Polygon Ecosystem Token (POL) is the native utility and staking crypto asset of the Polygon network — a major Layer-2 scaling solution for Ethereum that is designed to process transactions faster and at lower costs. POL replaced the earlier MATIC token and now powers staking, gas fees, and governance across the growing Polygon ecosystem.
POL remains one of the largest Layer-2 ecosystems on Ethereum, with widespread DeFi, NFT, and dApp activity. POL has a market cap of $1.2T as of date, while the total crypto market cap stands at $2.25T.
On the weekly chart, POL is trading at $0.1131 and has witnessed a sharp fall from the $0.2964 levels, hitting a record low of $0.0839 over the last six months. The POL price chart is showing signs of positive strength and is now moving from the Neutral zone to the Positive zone.
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Technical Chart of POL
On the weekly chart, the POL price has started trading above its Simple Moving Average (14 & 21 periods) levels of $0.1087 and $0.1121, indicating positive momentum going forward. On the weekly chart, the Relative Strength Index (RSI) is at 39.59 and the Stochastic is at 24.89, indicating an oversold zone and a potential reversal.
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Support and Resistance Levels
| Support 2 | Support 1 | Asset (Price) | Resistance 1 | Resistance 2 |
| $0.7560 | $0.9550 | Polygon ($0.1131) | $0.1365 | $0.1632 |
Above $0.1632, there is a possibility of the price moving towards the $0.1833 levels.
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