The current state of MATIC and Polygon’s crypto ecosystem ranks among the worst. It took a toll on In the wake of FTX’s demise, the industry-wide contagion has impacted other projects, Polygon among them. Despite this, Polygon is in the top three DeFi companies in terms of revenue. However, Polygon and its native coin is seen to continue to bear the brunt of the pains from the collapse of FTX. Can MATIC truly rally now, as it falls to its support at $0.82 despite its social dominance? Related Reading: Bitcoin Cash On Downward Motion Since Breaching $105 Level – Here’s Why For MATIC, It’s A Narrow Market At the moment, MATIC is trading at $0.861, with a fairly narrow green candle. Indicator BB shows a point of maximum pressure at around the same price. Coupled with the bearish formation of a descending triangle, this spells doom for MATIC over the following days. Past results show that the token has also had trouble gaining traction. Available data on CoinGecko shows that MATIC is currently experiencing a losing run ..
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