Polygon’s MATIC Price Recovery in Sight
As a crypto enthusiast, you may be pleased to know that Polygon’s price, represented by MATIC, is on track to recover recent losses with a 21% rally. This could signal a gradual upward trend for the altcoin, supported by its loyal holders.
Investor Action Influences MATIC’s Price
- Investors play a crucial role in driving MATIC’s price action and influencing its recovery trajectory.
- The behavior of MATIC holders, particularly their bullish moves, can directly impact price growth.
- Currently, the majority of active addresses for MATIC holders are not looking to sell their holdings.
- Less than 1% of participants are currently profitable, indicating a strong intent to hold and boost prices.
This overwhelming desire to secure profits is evident in the recent movement of MATIC tokens from short-term to mid-term holders, who are more inclined to hold onto their assets for a longer period.
MATIC Price Prediction: Targeting $0.80
- MATIC’s price is rebounding from the $0.65 support level and is approaching the $0.70 resistance level.
- If this resistance is breached, the Polygon token could surge towards the $0.81 resistance mark.
- The Moving Average Convergence Divergence (MACD) indicator reflects increasing bullish sentiment, possibly indicating a trend reversal.
While a bullish crossover is anticipated, a break below the $0.65 support level could expose MATIC to a decline to $0.60, threatening further losses and challenging the bullish outlook.
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