Polygon – Evaluating if POL prices can break $0.255 next

Key Points

1. Polygon's price surged 10.75% to $0.2367, with market cap rising 9.63% to $2.48 billion, indicating increased capital inflow.

2. Buy demand recovered, with a positive Buy Sell Delta of 792.6K, reflecting aggressive spot accumulation.

3. Derivatives demand increased, with Open Interest (OI) up 13.22% to $118.76 million and Long Short Ratio at 1.04 (51% longs vs. 48% shorts).

4. Profit-taking poses a threat, as Spot Netflow turned positive ($602k), signaling potential selling pressure.

5. Technical indicators like RSI (59) and DMI (26) suggest bullish momentum, but failure to hold gains could lead to a retrace to $0.207.