The price of a 40% rate of 40% drop in spite of defines, stablecoin gains

Additional information shows that the total value locked on the field of polygon makes a slow recovery. TVL is 1.03 billion dollars, more than a day within 736 million dollars. The growth was still noticed in POL conditions, and the figure grows at 4.35 billion from 1.86 billion poles in January.

Data Nansen also shows that the number of weekly transactions on the polygon increased by 9% to 19.27 million, higher than arbitrums (Bow) 12 million.

Decentralized exchange transactions on the polygon rose by 48.46% in the last seven days at almost a billion dollars.

The main challenge of the polygon is that he still lost market share newer networks at a layer level like Unichain, base and arbitrum. For example, Unichain, introduced in February, processed over $ 3.8 billion transactions.

Technical analysis of the price of the polygon

The daily shows that the gender is to $ 0.15,11500 in April, and then recovered as a broader crypto market. The token almost re-persisted key resistance to 0.2863 USD, the lowest level from November last year.

However, the coin slowly formed a sample on a wedge, defined with two inclined and converging trends. This form often signals a potential chest when the price nearby.

If the disintegration appears, the polygon could fall to the next level of support to 0.1504 dollars, april low, which is about 40% below the current price. A crucial move above the level of resilience to $ 0.30 would not undo the bear.