Mananatili ba ang MATIC sa Sub-$1 Doldrums?

　　Tech

　　Mananatili ba ang MATIC sa Sub-$1 Doldrums？

　　Balita ng Ethereum ng Bitcoin

　　Polygon (MATIC), the high-speed scaling solution for Ethereum, has been on a rollercoaster ride this month. After a brutal price correction that saw MATIC tumble over 20%, a recent 24-hour surge has injected a dose of optimism into the market. But is this a sign of a full recovery, or a temporary reprieve before further decline？

　　Polygons Price Plunge: A Reality Check

　　CoinMarketCap data paints a sobering picture. MATIC has been steadily dropping down the ranks of the top 20 cryptocurrencies, currently sitting at number 18. This decline coincides with a significant price drop, with MATIC losing over a quarter of its value in the last 30 days.

　　Analysts like World of Charts point to the descending channel pattern on MATIC‘s daily chart, a classic indicator of a bearish trend. For a true price recovery, MATIC needs to overcome a crucial hurdle: the $0.77 resistance level. A breakout above this point could trigger a significant bull run to the $1 dollar level, but the climb won’t be easy.

　　Ang market cap ng MATIC ay kasalukuyang nasa $6.8 bilyon. Tsart: TradingView.com

　　Despite the recent price uptick, data suggests substantial selling pressure on Polygon. The exchange inflow has increased significantly, indicating investors moving tokens onto exchanges, often a precursor to selling. This trend is further corroborated by a rise in MATICs supply on exchanges, while the supply held outside of exchanges has dwindled.

　　Technical Indicators Paint A Mixed Picture

　　While the MACD offers a glimmer of hope, other technical indicators remain bearish. The Bollinger Bands suggest reduced volatility, which can be a sign of consolidation before a breakout or a further price drop. Both the Money Flow Index (MFI) and Chaikin Money Flow (CMF) have registered downticks, potentially signaling the end of the short-lived bull rally.

　　Polygons Path Forward

　　While the technical outlook for Polygon remains uncertain, a complete reversal isnt out of the question. Continued positive developments within the Polygon ecosystem, coupled with broader market recovery, could propel MATIC upwards.

　　However, overcoming the selling pressure and technical resistance levels will be crucial for a sustained bull run. Investors should exercise caution and closely monitor market developments before making any investment decisions.