MATIC, Polygon’s native token, recently suffered a significant price decline amid a broader market downturn. The token dropped over 20% in the past month, reaching its lowest price level in two years. As the market recovers, some analysts have made a bullish case for the token but warned of a key level to watch. Related Reading: Buying The Dip: PEPE Price Recovers 10% As Whales Load Their Bags MATIC Hits Two-Year Low Levels Over the past few months, MATIC has registered a steady decline from its one-year high of $1.27. Since July, the token’s price has retraced 20.5%, falling from the $0.55 support zone to the $0.40 mark. During the August 5 market crash, where most cryptocurrencies plunged by 20%, MATIC fell to a two-year low price of $0.35. This level, last seen in June 2022, represented a 30% decrease from its price at the beginning of the month. MATIC’s market capitalization also fell by 30.2% during the crash, going from $4.6 billion to $3.5 billion. Since then, the token has lost its spot among the top 20 cryptocurrencies by this metric. Polygon’s native token currently sits at ..
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