Polygon (MATIC) has been seeing a massive sell-off over the last few days. Although the general trend for the altcoin is still positive, MATIC has declined sharply and is past a very crucial support zone that could make losses even worse. But is there any hope of a possible rebound? Here are some highlights:
-
At the time of writing, MATIC was trading at around $1.83, nearly 15% down in intraday trading.
-
The altcoin had in fact tumbled below $1.7, a crucial support level, albeit it managed to regain those losses.
-
MATIC has also slid past its 200-day moving average, suggesting a rout is coming.
Data Source: Tradingview.com
Polygon (MATIC) – Price action and analysis
Polygon (MATIC) was by far one of the top-performing altcoins in 2021. But after a dip in crypto this year, it has followed other coins in decline. At the time of writing, the coin had lost nearly 15% of its value in less than 24 hours.
This came as a huge shock considering MATIC was actually on an uptrend, has reversed some of the losses seen at the start of the year. More seriously, the coin has also surged below its 200-day moving average, suggesting that a bearish trend could hold.
If indeed MATIC is not able to break past $1.75 and sustain gains there, then it could head towards $1 in the near term.
Should you buy Polygon (MATIC)
The answer is yes. If you are keen on buying quality cryptos with some amazing underlying fundamentals, then you won’t find a better option than MATIC. In fact, this recent dip gives investors a good opportunity to grab it at a discount. It is highly likely that the altcoin will rebound and head back up. As for short-term plays, MATIC is just too risky.
The post Polygon’s (MATIC) bloodbath continues as altcoin declines past crucial support- Price prediction and analysis appeared first on Coin Journal.
Check live crypto rates here
Start trading today – See our list of exchanges
tadalafil kaufen generika cialis 10mg fГјr frauen viagra bestellen
isotretinoin 20mg oral buy amoxil 250mg without prescription buy ivermectin 2mg
modafinil price buy acetazolamide 250mg online cheap acetazolamide 250mg over the counter
I like this weblog very much, Its a very nice situation to read and find information.
doxycycline over the counter clomiphene order online furosemide 100mg usa
I consider something genuinely special in this web site.
wonderful points altogether, you just gained a new reader. What would you recommend about your post that you made some days ago? Any positive?
You should take part in a contest for the most effective blogs on the web. I will suggest this website!
Hey, you used to write wonderful, but the last few posts have been kinda boring… I miss your super writings. Past few posts are just a little out of track! come on!
Hey, you used to write excellent, but the last few posts have been kinda boring… I miss your super writings. Past few posts are just a bit out of track! come on!
Great work! That is the type of information that should be shared around the internet. Shame on Google for not positioning this submit upper! Come on over and consult with my web site . Thanks =)
It’s hard to find knowledgeable people on this topic, but you sound like you know what you’re talking about! Thanks
Thank you for the sensible critique. Me & my neighbor were just preparing to do a little research on this. We got a grab a book from our area library but I think I learned more clear from this post. I’m very glad to see such great info being shared freely out there.
Perfect work you have done, this internet site is really cool with good information.
Hello there, You’ve done an excellent job. I will certainly digg it and personally suggest to my friends.
I’m sure they will be benefited from this web site.
Hey! I just wanted to ask if you ever have any trouble
with hackers? My last blog (wordpress) was hacked and I ended
up losing several weeks of hard work due to no data
backup. Do you have any methods to stop hackers?