Polygon’s payment ecosystem recorded significant growth in June as Paxos and Rio processed a combined $860 million in monthly volume, up from $406 million in May. The increase reflects rising real-world usage of the network for transactions beyond speculative trading. Despite this, the POL token price remains under pressure, trading at $0.0768 after a prolonged downtrend from its late-2024 high above $0.60. Technical indicators show early signs of improving momentum, including a bullish MACD crossover, but a breakout above key resistance levels between $0.087 and $0.102 is needed before traders can confirm a trend reversal.
Payment activity on the Polygon (POL) network is extending into non-conventional areas, with both Paxos and Rio recording their best performance for June, as reported by crypto trader Abhinav Sharma. Paxos volumes increased from $259 million in May to $579 million, a 123% rise, while Rio volumes rose from $147 million to $281 million, a 91% gain. In total, these platforms processed $860 million in June, up $454 million from May, indicating increased blockchain transactions for purposes other than profit.
Market performance for POL remains challenged despite network growth. The token has maintained a long-term downtrend, trading at $0.0768, after declining from its last record high above $0.60 in late 2024. Lower lows and higher highs continue to appear on the chart, suggesting sellers remain in control, though the most recent weekly candle closed up by about 3.3%.
Some improvement is visible in momentum oscillators. The MACD shows a bullish crossover, with the oscillator and signal lines crossing and the histogram turning positive. Selling pressure has decreased as buyers begin to return, but momentum remains low as the MACD approaches zero. The current price oscillates between $0.07 and $0.08.
Near-term support for POL lies at $0.070 to $0.075. Holding above this level may prevent another decline, while failure could push prices lower. Near-term resistance stands between $0.087 and $0.102. Breaking above these levels would increase near-term optimism, but for the long-term downtrend to lose momentum, POL must enter the Ichimoku Cloud zone of $0.12 to $0.18.
