March 31, 2023

Polygon (MATIC) Market Struggles as Bearish Control Persists

The Polygon (MATIC) market has been struggling over the past 24 hours, as the bearish control persists. Despite an initial surge to an intraday high of $1.09, the MATIC price quickly fizzled and fell to a 30-day low of $0.9653. Investors in MATIC should keep an eye on the $0.95 support level due to the choppy nature of the market.

If the support level is broken, MATIC could see further losses, potentially reaching $0.90. The bearish control has persisted, and the MATIC price is currently at $0.965, down 7.65% as of writing.

The slump in market capitalization during the recession may be due to the bearish control, which shows investors have lost faith in MATIC. However, the increased 1-day trading volume of 33.95% to $789,322,287 may indicate that some investors are still interested in the cryptocurrency.

Despite the current struggles, some analysts remain optimistic about the future of MATIC. They believe that the recent dip in price may present a buying opportunity for investors who believe in the long-term potential of the cryptocurrency.

As always, investors should do their own research and consider their risk tolerance before investing in any cryptocurrency. The market can be volatile, and prices can change quickly. However, for those who believe in the potential of MATIC, the current dip in price may present an opportunity to buy in at a lower price point.

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