Polygon price shows signs of exhaustion after gains of 11% in the past week. A potential retracement to $0.599 seems likely as investors look to book profits. On-chain metrics show a clear redistribution among holders, adding credence to the short-term correction possibility. A rejection here seems plausible, allowing sidelined buyers an opportunity to accumulate
price retests the daily resistance level at $0.668 adds weight to the potential pullback. Investors looking to accumulate price rally continues asPolygon’s POL contract goes live on Ethereum mainnet Further adding credence to the idea of a short-term correction is the Whale Transaction metric, which tracks transfers worth $100,000 or more. A spike in this index after a rally suggests whales are moving their holdings to book profits. The recent spike in this indicator after an 11% rally denotes that a short-term correction is on its way.
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