60% Rally Tests Trendline Support As Open Money Stack Drives Network Activity

• Polygon trades at $0.1717 after 60% weekly rally driven by Open Money Stack announcement and rumored $100-125M Coinme acquisition.
  
• Daily POL burns accelerate to 1 million tokens while active addresses jump 25%, showing on-chain activity backing the move.
• Price tests rising trendline support at $0.1700 after rejection near $0.19, with RSI at 41.18 signaling consolidation phase.

Polygon price today trades near $0.1717 as the token consolidates after a 60 percent weekly surge that made POL one of the best-performing cryptocurrencies in the top 100. The rally was triggered by the Open Money Stack announcement, but price is now testing trendline support as traders assess whether the move has staying power or needs deeper correction.

Open Money Stack Launch Targets Global Payment Infrastructure

Polygon Labs announced the Open Money Stack on January 8, a modular stablecoin payment framework designed to enable seamless cross-chain transactions between fiat and crypto. The platform allows users to move money across the blockchain ecosystem instantly while keeping funds in crypto, positioning Polygon as infrastructure for global payments.

The framework represents a strategic shift toward regulated financial applications rather than speculative DeFi. By targeting stablecoin transfers and on-chain settlement with compliance built in, Polygon is positioning for institutional adoption that requires regulatory clarity.

Market reaction was immediate. POL surged from lows near $0.10 in late December to highs around $0.19, a move that outpaced most major cryptocurrencies during a period when Bitcoin and Ethereum struggled. The rally shows traders view the Open Money Stack as a genuine catalyst rather than typical development announcements that fail to impact price.

Network Activity Surges As Burns Accelerate

On-chain metrics confirm the rally is backed by usage rather than pure speculation. Daily POL burns have accelerated to approximately 1 million tokens, removing supply from circulation. Active addresses are up over 25 percent, while transaction volumes have risen close to 20 percent.

When network activity increases alongside price, it typically signals sustainable momentum rather than a speculative pump. The combination of burns, active users, and transaction volume suggests participants are engaging with the network rather than just trading the token.

Rumors of a potential $100-125 million Coinme acquisition continue to fuel speculation about expanded fiat on-ramps. If confirmed, the acquisition would provide Polygon with direct access to traditional finance infrastructure, accelerating the Open Money Stack’s real-world adoption timeline.

Daily Structure Shows Price Above Key EMAs

The daily chart shows POL trading above the 20, 50, and 100-day EMAs after reclaiming them during the rally. Key levels show:

• 20-day EMA: $0.1307
• 50-day EMA: $0.1312
• 100-day EMA: $0.1513
• 200-day EMA: $0.1859
• Supertrend: $0.1434

Price sits between the 100-day EMA at $0.1513 and the 200-day EMA at $0.1859, creating a technical range. Bulls need to reclaim the 200-day EMA to confirm a trend reversal from the multi-month decline that preceded this rally.

The Supertrend indicator at $0.1434 provides critical support. As long as POL holds above this level, the bullish structure remains intact. Losing it would flip the indicator bearish and likely trigger a deeper correction toward the 100-day EMA.

Trendline Support Tests Rally Conviction

The 30-minute chart shows Polygon testing rising trendline support near $0.1700 after failing to hold gains above $0.1850. The Parabolic SAR sits at $0.1845, well above current price, indicating short-term momentum has shifted from bullish to neutral.

The RSI reads 41.18, below the midpoint after reaching overbought levels above 70 during the rally. This reading suggests the consolidation has room to continue before becoming oversold, meaning price could test lower levels without invalidating the broader uptrend.

The trendline that supported the entire rally from $0.10 sits near $0.1700. Holding this level would confirm the pullback is healthy consolidation, setting up another leg toward the $0.19 highs. Losing it would signal profit-taking has overwhelmed new demand, exposing $0.1550 support.

Outlook: Will Polygon Go Up?

The setup depends on whether the Open Money Stack delivers adoption that justifies the rally. If POL holds trendline support at $0.1700 and reclaims $0.18 with volume, the consolidation becomes a continuation pattern. That would target the previous highs near $0.19, with further upside toward $0.22 if the 200-day EMA breaks.

If price loses $0.1700 and breaks the trendline, the rally becomes a sell-the-news event. That would expose $0.1550 and potentially the Supertrend support at $0.1434 if profit-taking accelerates.

Holding $0.1700 keeps the rally alive. Losing it confirms distribution has begun.