Polygon's POL Token Surges 3% on Institutional Activity and Upcoming Hard-Fork

Polygon’s native token, POL, previously known as MATIC, experienced a notable surge, rising nearly 3% over the past 24 hours. This increase brought the token's value to $0.189, outperforming the broader market as measured by the CoinDesk 20 Index, which rose about 1.7% over the same period. The token's climb from $0.184 to $0.189, with a trading range of $0.0082 (4.28%), reflected constructive volatility patterns, according to technical analysis data.

The token's performance was underpinned by the establishment of multiple support zones, particularly within the $0.183 to $0.184 corridor, where buyers consistently emerged. The trading volume spiked to over 597,000, far above its daily average of 189,000, indicating strong institutional activity during the rally. This exceptional volume activity confirmed successful penetration above the $0.187 resistance level, suggesting robust institutional engagement.

Technical patterns also showed progressive higher lows between $0.1890 and $0.1892, indicating foundational support strength. However, overhead resistance persisted around $0.1897, establishing a compressed trading band that reflects market equilibrium before potential directional resolution. The technical landscape hinted at an upcoming breakout from market equilibrium, with the token's price compression near $0.189 suggesting a potential upward movement.

The recent announcement of Polygon PoS’s consensus layer, Heimdall v2, landing on 10 July 2025, also contributed to the token's positive momentum. According to the foundation's CEO, this is the most technically complex hard-fork Polygon PoS has seen since its launch in 2020. The announcement likely bolstered investor confidence, further driving the token's price increase.

In summary, Polygon’s token POL gained 3% over the past 24 hours, outperforming the broader market. The token's rise was supported by multiple factors, including the establishment of solid support zones, exceptional trading volume, and a recent significant announcement from the Polygon foundation. The technical landscape also suggested a potential breakout from market equilibrium, indicating a bullish outlook for the token's future performance.