POL (Polygon) ($POL) Crypto Forecast: Down 5.0% Today

What is POL (Polygon)?

POL, formerly known as MATIC, is a cryptocurrency token that operates on the Polygon network. It aims to provide scalability solutions for Ethereum and enhance user experience in decentralized applications.

Why is POL (Polygon) going down?

POL crypto is down 5.0% on Nov 4, 2024 21:45

• The bearish movement in POL today could be attributed to profit-taking by investors after a recent price surge.
• Questions regarding if network growth can help POL overcome selling pressure indicate concerns about market sentiment and potential challenges for the token.
• The overall market sentiment towards cryptocurrencies may have influenced POL's decline, with investors reacting to broader industry trends rather than token-specific news.
• Limited-time offers boosting APYs for other crypto assets may have diverted some attention and investment away from POL, contributing to its downward movement.

POL Price Chart

POL Technical Analysis

POL News

Top Crypto News This Week: US Elections, Sky’s Potential Rebranding, and More

Top Crypto News This Week: US Elections, Sky’s Potential Rebranding, and More

https://beincrypto.com/top-crypto-market-news-november-4-10/

Polygon: Can network growth help POL overcome selling pressure?

Polygon: Can network growth help POL overcome selling pressure?

https://ambcrypto.com/polygon-can-network-growth-help-pol-overcome-selling-pressure/

Cryptocurrency POL (ex-MATIC) Falls More Than 4% In 24 hours

Cryptocurrency POL (ex-MATIC) Falls More Than 4% In 24 hours

https://www.benzinga.com/insights/cryptocurrency/24/10/41662625/cryptocurrency-pol-ex-matic-falls-more-than-4-in-24-hours?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

Limited- time Only: HTX Boosts APYs of Flexible Earn Products for 13 Top Crypto Assets

Limited- time Only: HTX Boosts APYs of Flexible Earn Products for 13 Top Crypto Assets

https://beincrypto.com/htx-boosts-apys-of-flexible-earn-products/

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POL (Polygon) Price History

30.08.2024 - POL Crypto was down 5.0%

• The bearish movement of POL today can be attributed to a frustrated whale selling all their holdings in Polygon due to its significant decline from its all-time high (ATH) and reallocating their funds into Solana and another token under $0.08.
• Despite the bearish movement, there were recent positive indicators for Polygon, such as a 5% price increase following a major upgrade and a more than 3% price increase within 24 hours. However, these gains were overshadowed by the whale's actions and the overall market sentiment.
• The news about Polygon's 1019% network growth could have initially driven optimism and bullish sentiment, but it seems that the recent sell-off by a large holder had a more immediate impact on the token's price movement.
• Investors considering Polygon should weigh the potential for price increases against the risk of significant sell-offs by large holders, as demonstrated by today's bearish movement.

27.08.2024 - POL Crypto was up 5.5%

• The price of POL surged by more than 3% within 24 hours, driven by positive market sentiment and increased demand for the token.
• The major upgrade on the Polygon network likely contributed to the 5% price increase of POL, showcasing the network's commitment to enhancing its technology and attracting more users.
• The significant network growth of Polygon by 1019% is a bullish indicator for POL, as it suggests a growing user base and ecosystem that could potentially drive the token's value higher.
• The anticipation of a 40% price rally as the Total Value Locked (TVL) on the Sui platform nears $1 billion could further boost investor confidence in POL, leading to continued bullish momentum in the market.

02.09.2024 - POL Crypto was down 5.3%

• POL experienced a strong bearish movement today, possibly due to profit-taking after a period of price increase.
• The frustrated whale selling all POL for Solana and another token under $0.08 could have added selling pressure to the market.
• Despite the bearish movement, there are still bullish sentiments surrounding POL, as indicated by the 5 reasons to be bullish on its price.
• The major upgrade on the Polygon network could have initially boosted POL's price by 5%, but the overall market sentiment turned bearish, leading to a decline.

02.09.2024 - POL Crypto was down 6.5%

• The bearish movement of POL today can be attributed to a frustrated whale selling all their holdings for Solana and another token, signaling a lack of confidence in POL's future prospects.
• Despite the recent price increase of over 3%, the overall sentiment seems to be negative as Polygon has ended September on a low note, raising concerns about holder profitability.
• The announcement of major updates by CryptoGames, including support for Shiba Inu, Solana and Tether lotteries, and a migration from MATIC to POL, did not seem to have a positive impact on POL's price.
• While there were 5 reasons to be bullish on Polygon's price recently, the market movement today indicates that these factors may not have been strong enough to outweigh the selling pressure from frustrated investors.

28.09.2024 - POL Crypto was down 5.2%

• Despite preparations for a major rally, Polygon (POL) experienced a significant decrease of more than 7% within 24 hours, hitting a two-year low.
• The price movement seems to be replicating the 2021 cycle, raising concerns among investors about Polygon's Q3 struggles and its ability to bounce back in Q4.
• The bearish movement of POL may be attributed to the overall market sentiment, where investors might be taking profits or reallocating their portfolios amidst the volatility.
• The anticipation of a major rally for altcoins like DOGE, ETH, and POL may not have materialized as expected, leading to a sell-off in Polygon and contributing to its price decline.

25.09.2024 - POL Crypto was down 6.3%

• POL experienced a strong bearish movement today, hitting a two-year low and sparking concerns among investors.
• Questions have been raised about the future of Polygon, with discussions on bullish sentiment pointing to uncertainty and volatility surrounding the token.
• The price hitting a two-year low could be attributed to profit-taking by traders, market sentiment towards cryptocurrencies, and potential concerns or challenges facing Polygon's technology or ecosystem.
• Investors are advised to closely monitor developments within the Polygon network and the broader cryptocurrency market to make informed decisions regarding POL.

25.09.2024 - POL Crypto was down 6.6%

• The bearish movement in POL today can be attributed to a combination of profit-taking by short-term traders and overall market uncertainty.
• The concerns sparked by POL hitting a two-year low and 2021 low may have led to increased selling pressure and a lack of buying support.
• Despite the bearish trend, the potential for a bullish sentiment to push POL past key resistance levels is still a possibility, depending on market sentiment and external factors affecting the cryptocurrency space.
• Investors should closely monitor developments in the cryptocurrency market and news related to POL to make informed decisions regarding their positions.

31.09.2024 - POL Crypto was down 5.1%

• The drop in POL's value today may be linked to investors' lack of profitability.
• Speculation about a forthcoming rally for POL might have prompted some investors to take profits, causing a temporary price decrease.
• Comparisons between POL's recent price trends and those of 2021 could have created uncertainty among investors, resulting in selling pressure.
• Concerns about POL's Q3 difficulties and expectations for a rebound in Q4 could have influenced market sentiment, impacting today's bearish movement.

26.09.2024 - POL Crypto was down 6.3%

• POL saw a notable decline of over 7% in a 24-hour period, dropping to a two-year low and nearing its lowest point in 2021.
• Concerns surrounding Polygon's challenges in Q3 and its price reaching unprecedented lows have surfaced, sparking speculations about the token's trajectory.
• The decline in POL's value could be linked to prevailing market skepticism and uncertainty, with investors showing reluctance to surpass significant resistance levels.
• The pivotal query revolves around POL's potential recovery in Q4, signaling a guarded perspective on the token's performance in the immediate future.

29.09.2024 - POL Crypto was up 5.8%

• Despite a recent price dip, today's significant bullish movement suggests a possible positive shift in POL's performance.
• Speculation surrounding a forthcoming rally and price targets for POL may have generated fresh interest and purchasing momentum in the token.
• While acknowledging Polygon's challenges in Q3, there is optimism for a rebound in Q4, potentially instilling confidence in investors and contributing to today's bullish trend.
• The absence of profitable POL investors in recent times could have triggered increased buying activity as traders aimed to benefit from the predicted upswing.

03.10.2024 - POL Crypto was down 5.2%

• The bearish movement of POL today could be attributed to profit-taking by investors after a recent price surge.
• Mentioning the lack of profitable investors in POL may have added to the selling pressure, causing further downward movement.
• Despite the negative price action, the potential network growth of Polygon could help POL recover from the current dip in the future.
• Investors speculating on the price movement of POL may be waiting for the right entry point to capitalize on future gains.

04.10.2024 - POL Crypto was down 5.0%

• The bearish movement in POL today could be attributed to profit-taking by investors after a recent price surge.
• Questions regarding if network growth can help POL overcome selling pressure indicate concerns about market sentiment and potential challenges for the token.
• The overall market sentiment towards cryptocurrencies may have influenced POL's decline, with investors reacting to broader industry trends rather than token-specific news.
• Limited-time offers boosting APYs for other crypto assets may have diverted some attention and investment away from POL, contributing to its downward movement.