Polygon drops 9% below $0.10 as selling pressure mounts
Polygon (prev. MATIC) (POL)
bitcoinethereumnews.com reports that Polygon [POL] has plunged 9%, breaking key support to hit a low of $0.093. The altcoin is currently trading around $0.094, down 8.9% on daily charts, while trading volume surged 54.8% to $87.6 million. This volume increase during a pullback indicates heightened sell-side activity as investors reduce exposure.
On the spot market, netflow turned positive at $849k, suggesting funds are entering exchanges as holders cash out. Derivatives data from Coinalyze shows Polygon Perpetuals recorded 46.79 million in sell volume versus 43.2 million in buy volume. Delta dropped to -9.8 million and net buying was negative at -98 million, indicating traders are closing positions.
Futures data mirrors this trend with $23.6 million in outflows against $22.1 million in inflows, pushing netflow to -$1.55 million. Technical indicators confirm weakening bullish momentum, with MACD falling to 0.007 and ADX DI+ declining to 35. If bears maintain pressure, POL could fall below $0.09 with $0.082 as the next support level. To invalidate this bearish trend, POL needs a daily close above $0.1 and a reclaim of the $0.12 resistance.
How the market reacted
Whalio's own Binance spot order flow for POL, measured when this story was written up on 1 September 2026. Not the outlet's figures.
Whalio data shows POL trading at $0.09061, with a 1-hour buy ratio of 49.6% and a 4-hour buy ratio of 55.0%. These short-term readings are lower than the 24-hour buy ratio of 58.4%, suggesting that immediate buying pressure is fading relative to the longer timeframe. The 1-hour volume delta is negative at -$1,407, while the 4-hour delta is positive at +$91,279. The 24-hour volume delta stands at +$2,683,678, with a cumulative volume delta (CVD) of +$2,707,116 at the close. This positive CVD indicates that over the last day, total buy volume exceeded total sell volume. However, the 1-hour negative delta suggests that recent trading activity has been dominated by sellers.
The latest daily buy ratio of 45.6% sits at the 6th percentile of the last 322 days, against a median of 49.7% - among the weakest buying days it has had.
Twenty-four hours later
What POL did over the 22 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for POL, averaged over the days leading up to the story.
Over the preceding week, the 7-day average buy ratio was 52.2%, making today's 24-hour ratio of 58.4% an increase of 6.1 percentage points. Trading volume today was 1.43 times the weekly average, indicating significantly higher activity. Net buying occurred on 6 of the past 7 days, with a total volume delta of +$7,096,417 for the period. This contrasts with the 8-day price change of -22.2%, showing that buying has not yet reversed the broader downtrend. Today's volume spike and elevated buy ratio suggest a potential short-term counter-trend move within the weekly decline.