Polygon Price Under Pressure as FalconX Deposits $1.29 Million into Binance

Polygon's price has been under pressure due to a significant deposit of tokens into Binance by FalconX, valued at $1.29 million.

This move has raised concerns about additional supply in the market and potential selling pressure on Polygon's price.

However, top traders on Binance maintain substantial long exposure, with 63.21% long positions against 36.79% short positions, indicating a clear support for bullish positioning.

The double-bottom rebound structure is developing around $0.08934, and a successful break above $0.09846 could validate stronger recovery potential towards $0.10691.