Polygon (MATIC) Price Dropped 9% in One Day – so Where’s It Headed Next?
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The Polygon (MATIC) price could initiate a relief rally before another final drop completes the entire correction. The MATIC token is the native token of the Polygon network, a scaling solution for the Ethereum blockchain. The MATIC price has increased since bouncing at the $0.77 horizontal support area in the beginning of the year. This led to a high of $1.57 on Feb. 17. While it initially seemed that the MATIC price reclaimed the $1.35 resistance area, the movement turned out to be a deviation (red circle). Shortly afterward, the price fell below the area. The weekly RSI is bullish
Polygon (MATIC) price has dropped by 18% since the team announced plans to migrate from MATIC to a new “POL” native token on July 13. Have the token migration plans sparked bearish concerns within the Polygon community? After a promising start to July, Polygon (MATIC) has run into choppy waters…
The Polygon (MATIC) price broke out from an ascending parallel channel on October 22. It validated it as support five days later. During the increase, the price reclaimed the $0.60 horizontal resistance area. Is this the beginning of the trend reversal? MATIC Reclaims Horizontal Resistance The weekly timeframe technical analysis…