Polygon NFTs have overtaken Ethereum collectibles in the last week in the 7-day volume. Polygon-based NFT collections recorded $21 million in sales over the past week, a 24.88% increase from the previous week. This surpasses Ethereum’s $20 million, which saw a 43% decline in sales volume during the same period. This surge highlights Polygon’s growing adoption, driven by lower transaction costs and strong engagement in the gaming and collectibles sectors.
Polygon’s rise comes amid a broader NFT market downturn, with total weekly sales dropping 10% to $93 million and over 250,000 traders participating globally. Bitcoin and Mythos Chain followed as the third and fourth most-traded blockchains, while Solana ranked fifth. Given this latest Polygon news, let’s see how the NFT performance will help the Polygon prices with a POL price analysis. With the help of technical indicators, let’s explore possible scenarios for the Polygon price for the coming days.
POL Price Analysis of the Last 24 Hours
As trading commenced yesterday, the POL (previously MATIC) price stood at $0.1904. It ascended slowly, forming an early trading range around 1:00 UTC, with $0.1919 as the lower support and $0.1940 as the resistance. It soon stabilized in the range and mustered an upward breakout, as an extended uptrend commenced at 4:30 UTC, thanks to the slight golden cross on the MACD. The buying pressure mounted as POL ascended rapidly, reaching overbought conditions at 6:00 UTC. However, the bullish trend continued despite the overbought RSI, as Polygon price finally stabilized around $0.1960.
Chart 1: published on TradingView, April 22, 2025
After a period of consolidation, the coin continued its upward journey, reaching a price of $0.1980 by 11:00 UTC. The RSI was nearly overbought again, and a stark drop followed. However, the buyers continued to dictate the Polygon price trend, which rose to $0.1993 by 12:35. The price stabilized again. A golden cross was seen at 14:05, causing a price spike to $0.2048. However, severe correction came along. The coin spiked to test that level again, but eventually stabilized around the $0.2 mark. The buying pressure lost steam, and Polygon was seen at $0.1967 around midnight.
Polygon Price Action on April 22: POL Scales the Charts
At 1:00 UTC on April 22, a golden cross formed on the MACD as it ascended rapidly. The uptrend is plateauing early near the $0.2000 mark by 3:00 AM UTC. But another golden cross around the same time led it further up. The following notable correction for the Polygon price trend came at 6:30 UTC, as it dropped to $0.2070 before continuing the bullish run. The uptrend continued till Polygon tested the $0.2214 resistance at 8:50 in the morning. However, having defied the overbought conditions to keep rising, Polygon finally faced a notable correction at 9:00 UTC with a sizable death cross on the MACD. The coin dropped to $0.2161 and has since stabilized around the $0.2160 mark..
Polygon Price Prediction: Can POL Keep the Bull Run Going?
This is the first time since March 31 that POL has touched the $0.2 mark. The last 12 hours have been positive for Polygon, with almost a 10% notice increase. Currently, the RSI hangs around the midline, and the Polygon price has stabilized close to the resistance. A bullish trend from here could potentially have Polygon testing the resistance and even moving forward. However, if a bearish phase occurs, Polygon would like to find support far above $0.2.
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