POL (formerly known as MATIC) has witnessed bullish trends following its listing on Binance. The token has surged by over 18.4% from $0.3764 to $0.4456 since the listing announcement. Binance’s decision to include POL in several of its products has fueled investor optimism.
This positive momentum comes after the recent technical upgrade of the Polygon Network, which involved rebranding MATIC to POL. The token’s price has been fluctuating between $0.41 and $0.445, witnessing a significant 10% increase over the past week. At present, POL is trading at $0.4131 with a market cap of $2.93 billion, positioning it as the 28th largest cryptocurrency globally. Moreover, POL’s trading volume has surged by over 380% to $188 million.
Binance’s announcement prior to the listing has played a key role in driving up the price of POL. The integration of POL into various Binance products such as Earn, Buy Crypto, Convert, Margin, and Futures resulted in a nearly 15% price surge. Prior to this, POL had struggled to surpass the $0.39 resistance level and remained stagnant around $0.38 and $0.35 since early September.
Technical indicators reveal bullish signs for POL, with the 9-day moving average crossing above the 21-day moving average. The token’s price is currently above both averages, indicating strength on the part of the bulls. The Relative Strength Index (RSI) stands at 59, suggesting the possibility of overbought conditions and potential resistance.
According to POL price predictions, if the token manages to break through the $0.45 resistance level, it could target a price of approximately $0.53, reflecting a potential gain of 18%. With sustained bullish momentum, POL might even experience growth of up to 150%. However, if POL fails to maintain its position above $0.45 and drops below $0.40, a key support level is seen at $0.33.