Over the past 24 hours, the Polygon (MATIC) price has shown attempts to reverse its downward movement. The altcoin has regained more than 4% of its value during this time. However, on the weekly chart, MATIC has experienced a decline of over 27%, causing it to breach important support levels. The technical analysis of MATIC indicates a prevailing bearish sentiment in the market, with low levels of demand and accumulation. The volatility of Bitcoin has influenced the price action of altcoins, including MATIC, which have struggled to maintain support levels. Related Reading: Cardano Price Falls Below Key Support Levels, Will It Continue To Fall? A significant return of buying strength is needed for MATIC to surpass immediate resistance. Additionally, the overall strength of the broader market, particularly Bitcoin, will impact MATIC and other altcoins. The decrease in market capitalization for MATIC indicates lower buying activity for the coin. MATIC Price Analysis: One-Day Chart At the time of writing, the altcoin price was $0.64. The bulls have managed to defend the support level at $0.60 but sustained low demand could pose ..
Support the originator by clicking the read the rest link below.
