Can Polygon recover as on-chain demand fades? POL’s setup explained!
The Polygon (POL) network experienced a surge in on-chain activity in early January, leading to a record POL burn. However, demand has since faded, with POL trading at $0.1245, down 33.28% from its January high. Key metrics indicate a decline in daily active addresses and network growth, suggesting unsustainable activity. While short-term holders took profits, long-term holders remained steady. Traders should monitor the $0.12 support level and dormant circulation for potential selling signals. Overall, the initial price surge and activity were not maintained in the following weeks.
Amb Crypto·