Overview
- POL trades near $0.1809 after a month-long slide of about 24%, sitting close to the lower end of its recent $0.1806–$0.2058 range.
- On-chain trackers report a sharp drop in exchange-held supply, led by Binance outflows, a pattern some analysts associate with easing sell pressure.
- Network metrics strengthened in Q3, with peer-to-peer transfers up 48.5% to over $15 billion and USDT supply on Polygon up 35% to roughly $1.47 billion.
- Derivatives positioning shows rotation as open interest fell 13% to $60.26 million while futures volume rose 25% to $91.97 million, pointing to liquidations and new speculative flow.
- Technical gauges remain bearish below key moving averages and an RSI near 37, with traders eyeing $0.179–$0.175 as support and $0.195–$0.205 as the near-term hurdle.