2024-7-8 23:20 |
Polygon (MATIC) price is in the same dark ditch as most of the other altcoins in the market, still feeling the effects of the recent drawdown.
The best shot MATIC has at recovery will come not from the market but from the investors first.
Polygon Investors Are Still OptimisticMATIC’s price will be heavily influenced by its investors, who persist in their optimism despite the bearish cues. Despite the recent decline in its price, MATIC’s adoption rate remains steady at 34%, which indicates that the Polygon native token continues to attract interest from potential investors.
The steady adoption rate suggests that MATIC’s underlying value proposition and utility are being recognized, even in the face of market volatility. This consistent interest is a positive sign for the token’s long-term prospects as it continues gaining market traction.
Read More: How To Buy Polygon (MATIC) and Everything You Need To Know
MATIC Adoption Rate. Source: IntoTheBlockInterestingly, MATIC investors’ weighted sentiment is also largely positive. This optimistic outlook is notable given the recent losses many investors have experienced.
Despite their financial setbacks, the positive sentiment among investors suggests a strong belief in MATIC’s future potential. This confidence could be a crucial factor in driving future adoption and investment.
MATIC Weighted Sentiment. Source: Santiment MATIC Price Prediction: Breaking the BarriersMATIC price under $0.50 is disappointing since this is a key psychological support level. Breaching it would result in a potential incline to $0.60, the next major resistance level for the altcoin.
However, the chances of a successful breach are slightly low, considering the barrier remained unbroken throughout the second half of June.
Read More: Polygon (MATIC) Price Prediction 2024/2025/2030
MATIC Price Analysis. Source: TradingViewNevertheless, if $0.50 is never flipped into support, the altcoin could fall further. This could invalidate the bullish thesis, sending MATIC to $0.45.
The post Polygon Investors Could Flip the Glacial Pace of MATIC Price Recovery appeared first on BeInCrypto.
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