Altcoin Polygon (MATIC) rose to $1.12 on January 27, the highest value since November 20022.
Cryptocurrency turned out to be one of the most productive over the past seven days. Its capitalization increased by almost 15%, and now it exceeds $9.46 billion.
Polygon displaced Solana from tenth place in the ranking of the largest digital currencies.
The rally in the spot market contributed to a sharp increase in interest in MATIC futures, according to CoinGlaass data.
The amount of open contracts on Friday reached $228.628 million, the highest level since November 5, 2022. Contracts totaling up to $120.74 million have been deployed on the Binance exchange.
Open interest in Polygon futures on the ByBit, Bitget and OKX platforms increased to $46.17 million, $27.04 million and $16.62 million, respectively.
According to analysts, if this week the altcoin does not rise to $1.15, then further rate correction will become inevitable.
The nearest cryptocurrency support zones are at $1.08 and $0.92. The Relative Strength Index (RSI) signals that the asset is overbought, so the risks of a MATIC retreat increase.
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