bullish

Momentum

Polygon

Spot

<ul class="wp-block-list">
 <li>Derivatives traders are boosting Polygon’s price momentum with rising Open Interest and positive funding rates.</li>  
 <li>Spot traders are selling, with $4.1 million worth of POL moved to exchanges.</li>  
 <li>Despite selling pressure, Polygon may find support at $0.5478 and potentially rise to $0.6127.</li> 
</ul>  
<p><a href="https://cryptonewsland.com/polygon-price-targets-major-50-breakout-as-pol-whale-activity-surges/" rel="noopener noreferrer nofollow">Polygon (POL)</a> has seen impressive growth recently. In just a month, the token rose 66.28%, with weekly and daily gains of 27.43% and 2.02%, respectively. This surge shows strong market sentiment and increasing accumulation. As the token gains momentum, derivatives traders play a critical role in driving this upward trend. Meanwhile, analysts are still bullish on POL, despite selling pressure.</p>  
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<h2 class="wp-block-heading" id="h-derivatives-traders-driving-bullish-momentum">Derivatives Traders Driving Bullish Momentum</h2>  
<p>Data reveals how derivatives traders are fueling <a href="https://cryptonewsland.com/polygon-price-targets-major-50-breakout-as-pol-whale-activity-surges/" rel="noopener noreferrer nofollow">Polygon's price surge</a>. Open Interest (OI), which tracks unsettled futures contracts, has risen by 1.82%, reaching $115.87 million. This increase suggests more traders are betting on the token’s continued rise. Long positions dominate, signaling confidence in Polygon’s future.</p>  
<p>The Open Interest Weighted Funding Rate shows further bullish signs. After rising to 0.0023%, this metric points to a growing trend of upward price movement. These positive figures indicate that <a href="https://www.investopedia.com/terms/d/derivative.asp" rel="noopener noreferrer nofollow">derivatives traders</a> are backing the token, pushing it toward higher levels despite spot traders’ sell-offs.</p>  
<h2 class="wp-block-heading" id="h-will-polygon-overcome-selling-pressure">Will Polygon Overcome Selling Pressure?</h2>  
<p>Despite the bullish outlook from derivatives traders, spot traders are beginning to sell. In the last 24 hours, $4.1 million worth of <a href="https://coinmarketcap.com/currencies/polygon-ecosystem-token/" rel="noopener noreferrer nofollow">POL</a> moved to exchanges, suggesting a shift in sentiment among some traders. However, the technical chart shows optimism.</p>  
<p>A minor dip may occur due to selling pressure, but support is likely at $0.5478. If this level holds, the token could rebound, targeting $0.6127—an increase of 14.56%. Continued buying from derivatives traders could help absorb selling and keep Polygon’s momentum alive.</p>  
<p>While selling pressure from spot traders poses some risk, derivatives traders remain a powerful force. If buying activity continues and the market sentiment stays positive, Polygon could maintain its upward momentum.</p>   
<p>The post <a href="https://cryptonewsland.com/derivatives-are-shaping-polygons-price-momentum/" rel="noopener noreferrer nofollow">An In-Depth Analysis of How Derivatives Are Shaping Polygon’s Price Momentum</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

An In-Depth Analysis of How Derivatives Are Shaping Polygon’s Price Momentum

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