Popular Crypto Analyst Issues a Warning Sign to Polygon (MATIC) Holders

2023-11-23 20:30

Polygon (MATIC) has seen a slight rebound today after falling below what analyst Ali described as a “crucial supply zone” earlier this week. MATIC is currently trading around $0.78, up roughly 3% in the last 24 hours.

Popular crypto analyst Ali posted a warning on X (former Twitter) about the token slipping under the $0.84 to $0.86 range. As Ali explained, over 14,000 addresses hold more than 4 billion MATIC in this price band.

If the price were to stay below this level for an extended period of time, Ali cautioned that some of these holders may start selling to cut losses.

MATIC did spend the next couple hours struggling to regain the $0.84 support level. However, it seems the token has found its footing today with its 3% bounce back. Still, MATIC remains below the key supply zone Ali identified, currently sitting around $0.78.

It remains to be seen whether this mini-rally will be enough to keep those 14,000 addresses from panic selling. Some Polygon investors on X have expressed optimism that MATIC may be carving out a bottom. However, other analysts warn there could be more downside if overall crypto market conditions worsen.

Read also:

Ripple (XRP) Eyes Multi-Year Highs if This Fourth Accumulation Pattern Holds True – Analyst Best Crypto Coins for Gamers Crypto Millionaire Set His Sights on a New Lowkey Crypto Gem for 2023

Going forward, the $0.84 to $0.86 range seems poised to act as an important inflection point for MATIC’s price action. A decisive break back above this supply zone could signal a bullish shift in market sentiment. But failure to recover this level could open the door for a steeper selloff as nervous holders throw in the towel. MATIC investors may want to keep a close eye on this key price region.

We recommend eToro 74% of retail CFD accounts lose money. Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.

The post Popular Crypto Analyst Issues a Warning Sign to Polygon (MATIC) Holders appeared first on CaptainAltcoin.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Matic Network (MATIC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.5485
Капитализация $0 Rank 99999
Доступно / Всего 0 MATIC

matic polygon analyst currently week earlier supply

matic polygon → Результатов: 126


February 2024 Altcoin Surge Highlights: Meme Moguls (MGLS) Presale Success with Polygon (MATIC) and Chainlink (LINK) Surges

In February 2024, the altcoin market witnessed a notable surge, showcasing the vibrant dynamism and potential for substantial growth within the cryptocurrency sector. Among the standout performers, Meme Moguls (MGLS), Polygon (MATIC), and Chainlink (LINK) have captured significant attention due to their impressive gains and strategic advancements.

2024-2-22 11:00


Polygon (MATIC) Price Eyes Breakout at Critical Resistance, Nike Partnership in Focus

Considering the growing buying pressure brought about by a group of strategically-minded large investors, or 'whales', is it likely that Polygon (MATIC) will surpass the $0.90 mark in the days ahead? The post Polygon (MATIC) Price Eyes Breakout at Critical Resistance, Nike Partnership in Focus appeared first on BeInCrypto.

2023-6-5 12:30


Polygon прибавил 5% благодаря усилению сетевой активности

Альткоин Polygon (MATIC) в ночь на пятницу, 26 мая, вырос до $0,008. За минувшие сутки капитализация MATIC подскочила более чем на 5% до $8,218 млрд. Рост стоимости криптовалюты стал прямым результатом всплеска сетевой активности, считают эксперты.

2023-5-26 00:01