{"id":5047,"date":"2025-07-04T18:07:15","date_gmt":"2025-07-04T18:07:15","guid":{"rendered":"https:\/\/bitunikey.com\/news\/polygon-flips-ethereum-in-key-metric-pol-price-eyes-breakout\/"},"modified":"2025-07-04T18:07:19","modified_gmt":"2025-07-04T18:07:19","slug":"polygon-flips-ethereum-in-key-metric-pol-price-eyes-breakout","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/polygon-flips-ethereum-in-key-metric-pol-price-eyes-breakout\/","title":{"rendered":"Polygon flips Ethereum in key metric: POL price eyes breakout"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Polygon price has been in a free fall this year and is approaching its year-to-date low.<\/p>\n<p>Polygon (POL) dropped to a low of $0.1800 on Friday, July 4, down over 76% from its highest point this year. This decline has erased more than $4 billion in value, with its market cap falling from nearly $6 billion to $1.88 billion.<\/p>\n<p>Polygon could be on the verge of a breakout after the network flipped Ethereum (ETH) in terms of weekly non-fungible token sales. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.cryptoslam.io\/blockchains\/polygon\" target=\"_blank\">CryptoSlam data<\/a> shows that NFT sales on the network jumped by 52% in the last seven days to $24 million, while Ethereum NFT sales fell by 5.7% to $23 million.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Polygon\u2019s NFT volume was mostly driven by Courtyard, which recorded over $18 million in sales. Other top NFT collections on Polygon included DNS, with $4.9 million in sales, and OKX NFT Creation.<\/p>\n<p>Polygon is also gaining traction in the stablecoin sector, primarily due to Polymarket. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/app.artemisanalytics.com\/asset\/polygon?from=chains&amp;tab=stablecoins\" target=\"_blank\">Artemis data<\/a> shows that the stablecoin supply on Polygon rose by 8.5% in the last 30 days to $2.4 billion, while the number of transactions surged by 39% to 92.6 million.<\/p>\n<p>Polygon\u2019s main challenge is competition from other growing layer-2 networks. It currently holds a total value locked of over $1.2 billion, while the newly launched Unichain has already reached $1.16 billion. Base holds over $4.9 billion in TVL, and its monthly decentralized exchange volume has soared to over $28 billion.<\/p>\n<h2 class=\"wp-block-heading\">Polygon price technical analysis<\/h2>\n<figure class=\"wp-block-image size-full\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14394366\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">POL price chart | Soure: crypto.news<\/figcaption><\/figure>\n<p>The daily chart shows that Polygon price is gradually forming a double-bottom pattern at $0.1500, with a neckline at $0.2755, its highest level in May this year. This neckline is slightly below the 23.6% Fibonacci retracement level.<\/p>\n<p>POL has also formed a falling wedge pattern, a popular bullish reversal setup, defined by two descending and converging trendlines. These lines are nearing convergence, which may lead to a bullish breakout.<\/p>\n<p>If a breakout occurs, the initial target is the neckline at $0.2755, representing a potential 53% gain from the current level. However, a drop below the double-bottom support at $0.1500 would invalidate the bullish outlook.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Polygon price has been in a free fall this year and is approaching its year-to-date low. Polygon (POL) dropped to a low of $0.1800 on Friday, July 4, down over&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=5047"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5047\/revisions"}],"predecessor-version":[{"id":5048,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5047\/revisions\/5048"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3298"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=5047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=5047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=5047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}