Polygon (POL) price rose 5% but faces rejection at $0.095

While most altcoins remained stable, Polygon (POL) price saw a rise of around 5% on the daily chart today, thanks to positive sentiment across the cryptocurrency market.

Polygon (POL) price on Monday rose above $0.0955 with a gain of 5.13% during the intraday session. However, at the time of writing, the cryptocurrency is facing a minor correction and has returned around $0.0927 with a market cap of $985.96 million, according to CoinMarketCap. The daily trading volume also revolves around $69.95 million.

The launch of sPOL improves capital efficiency on the Polygon network

There are various factors and developments behind the rise in POL price.

One of the main reasons that has boosted the network’s activity is its success Launch sPOL On April 14th. sPOL is Polygon’s new liquid signature token that allows users to share their POL and continue to use it in decentralized finance applications without staking funds.

The upgrade has already unlocked approximately $330 million of previously idle capital. This additional liquidity allows holders to earn mortgage rewards while lending, borrowing or trading tokens on decentralized platforms. This upgrade directly increased demand for POL and improved capital efficiency in the entire cryptocurrency market.

In the first quarter of 2026, the network recorded 711 million transactions, an increase of approximately 49% from the previous quarter. According to DeFiLIama, stablecoin supply on the Polygon network has nearly doubled to $3.6 billion. Apart from this, daily transactions have grown by more than 300% over the past year.

Polygon recently launched upgrades, including a Giugliano hard fork, faster final times, and a live AggLayer that helps it connect more chains.

Polygon (POL) price is likely to face downward pressure

On the daily chart, POL is following a short-term upward channel after bouncing from the support area at $0.082. The current price indicates that it has risen above the 50-day simple moving average of around $0.093. However, POL price remains below the 200-day simple moving average at $0.130. This means that the cryptocurrency is likely to follow a neutral to bearish trend on long-term time frames.

According to the TradingView price chart, the RSI on the 14-day time frame is around 54. This means that the cryptocurrency is in a neutral zone without entering the overbought or oversold zone. However, there is still room for upside momentum if buyers come in in the upcoming trading sessions.

There is a major support area at around $0.086 to $0.081. If the cryptocurrency falls below this level, it could see a major correction. On the other hand, there is a major resistance level at around $0.094. If the cryptocurrency rises above this level, there is a major resistance level at around $0.100.

The cryptocurrency market is giving mixed signals despite the rise in Bitcoin (BTC) prices.

The cryptocurrency market is giving mixed signals today. Last week, the price of Bitcoin (BTC) rose above $77,000. On April 20, the largest cryptocurrency faced a minor correction and is currently trading at around $76,235 with a market cap of around $1.52 trillion.

According to the data, Bitcoin ETFs registered $996.38 million net weekly flows for the week ending April 17, 2026, the third consecutive week of positive flows.

Meanwhile, the $293 million Kelp DAO hack over the weekend hurt the DeFi sector. In just 48 hours, DeFi platforms lost more than $13 billion in total value locked (TVL). ghost It alone witnessed the withdrawal of $8.45 billion as users rushed to withdraw their money. The hack sparked fear among investors despite the rise in the price of Bitcoin.

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