Polygon Token Extends Rally to Five Consecutive Days, Eyes $0.1795 Target

Polygon's POL token has been on a winning streak for five consecutive days, extending its rally to a whopping 45% last week. The token has reclaimed the crucial $0.1000 level and broken above a long-term descending resistance line, strengthening its technical outlook.

The renewed network activity supports the recovery, with weekly transactions and fee-based economic value increasing. Polygon recorded approximately 41.44 million transactions last week, representing a growth of about 7.8% from the previous week. This surge in transaction activity suggests that users and applications are becoming more active on the network after its decline from the March peak.

The token's Real Economic Value (REV) also increased to approximately 6.06 million POL last week, indicating consistent demand for network activity. However, the rapid advance has pushed momentum indicators to extreme levels, raising the likelihood of consolidation or a corrective pullback.