Polygon (MATIC) is currently undergoing a period of bearish resistance, as the price range has recently gone from $0.9862 to $0.9494, a decrease of 2.46%. This has resulted in a reduction in the market capitalisation, as well as its 24-hour trading volume, both of which have fallen by 2.45% and 9.56% respectively. Nevertheless, its downward trajectory may only be temporary, as the Average Directional Index (ADX) of 20.24 has led to collective consolidation, with potential for a bullish reversal.

The Chaikin Money Flow score of -0.06 provided further evidence of the negative market momentum; however, this is not expected to continue for much longer, as the upward position signals that the price could soon rebound. Similarly, the Rate of Change (ROC) index shows that the fall in MATIC’s value has been sharp, yet the continuation of the chart’s upwards trend could result in a reversal.

Furthermore, the Stochastic Relative Strength Index (RSI) of 28.53 is trending higher, potentially inferring that the negative influences could start to subside. Consequently, experienced traders and newcomers alike are presented with a potential buying opportunity, considering the wider market trends.

Investors should, however, conduct their own research and use words of caution when considering a purchase in MATIC. This is because, while price fluctuations can be predicted in part, the dynamic crypto currency market is inherently unpredictable, with no guarantee of returns. Thus, any action taken by the reader is to be done at their own risk and Coin Edition, its affiliates and its sources will not be liable for any losses incurred through trading.



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