CandleFocus

Crypto Whales Invest $65 Million in Polygon (POL) Amid 12% Price Surge

Author: Content Editor
Polygon whales have accumulated over $65 million worth of tokens in the past week, coinciding with a 12% increase in the price of the POL token over the last 30 days. This accumulation suggests that the altcoin, previously known as MATIC, may regain some of its recent losses. However, some investors remain cautious about whether the current buying pressure will be enough to sustain the momentum. The increase in whale accumulation aligns with a growing bullish dominance, indicating a higher likelihood of a short-term price increase for the altcoin. The POL/USD chart has formed an inverse head-and-shoulders pattern, suggesting a potential reversal from a downtrend to an uptrend. If the whales continue to buy in large volumes, the price of the altcoin could rise to $0.45 or even $0.60. However, if the whales decide to sell, this prediction could be invalidated, and the price could decline to $0.38.

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