• POL saw strong network growth and bullish patterns, targeting a breakout above $0.5324
• Market sentiment improved as retail activity rose, with technical indicators hinting at a trend reversal

Polygon [POL] has seen a staggering 426% hike in active addresses over the past week, signaling strong growth in user engagement. At press time, the altcoin was trading at $0.4533, following a 1.91% drop over the last 24 hours. 

Despite this minor dip, however, POL’s technical and fundamental indicators seemed to align with each other, suggesting a potential breakout. Will the altcoin overcome its resistance and deliver a bullish trend reversal?

Any bullish possibilities?

POL’s price action revealed a descending wedge pattern – A classic bullish reversal setup. The double bottom formation near $0.4389 provided some additional support, reinforcing the potential for a price rebound. 

If POL breaks above the critical resistance level of $0.5324, it could trigger a significant bullish rally. However, the token must maintain sustained buying pressure to overcome the resistance and escape its downward trajectory.

Network activity indicates rising adoption

Polygon’s network activity has surged remarkably though, with active addresses climbing by 426% over the last seven days. Additionally, zero-balance addresses increased by an impressive 1,134.82% – A sign of heightened user engagement across the network. 

Although new addresses dropped slightly by 6.83%, the surge in active users highlighted a strong interest in the platform’s capabilities. Consequently, this network expansion has positioned the altcoin well for potential upward momentum.