Strike

Polygon

Coin

<ul class="news-points"> 
 <li>A crypto analyst noted there is a higher chance that holders in the $0.84 to $0.86 zone may sell if MATIC’s price remains below the zone.</li> 
 <li>Increasing bearish momentum indicated by the CMF and MACD can draw MATIC down below $0.75.</li> 
 <li>If the trend continues as analyzed, MATIC may not surpass the $0.84 to $0.86 supply zone in the short term.</li> 
</ul> 
Crypto analyst Ali Martinez posted that <a href="https://coinedition.com/tag/polygon-matic/">Polygon (MATIC)</a> has dropped below a vital supply as the token price dropped to $0.77. Martinez, in his post on X, noted that the $0.84 to $0.86 zone marked the threshold where a substantial number of addresses had accumulated approximately 4.13 billion MATIC. 
The analyst also added that if MATIC’s price remains below the zone, there is a higher chance that the holders who acquired in the $0.84-$0.86 range may choose to sell to avoid potential losses, further decreasing the price of MATIC. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$MATIC</a> has slipped below a crucial supply zone, spanning $0.84 to $0.86. In this range, 14,240 addresses hold over 4.13 billion <a href="https://twitter.com/hashtag/MATIC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#MATIC</a>. The longer the <a href="https://twitter.com/hashtag/Polygon?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Polygon</a> price remains below this zone, the higher the likelihood that these holders might start selling to avoid incurring… <a href="https://t.co/fc7eOmjOYp" target="_blank" rel="nofollow">pic.twitter.com/fc7eO…</a>
 </blockquote>
 </div>
</figure>
The post <a href="https://coinedition.com/matic-slips-below-critical-area-making-a-way-for-bears-to-strike/">MATIC Slips Below Critical Area, Making a Way for Bears to Strike</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

MATIC Slips Below Critical Area, Making a Way for Bears to Strike

Coin Edition

Other articles published on Nov 23, 2023

Secret behind OpenAI drama may be a step toward AGI with mathematical breakthrough – Reuters

Grayscale Files Updated Spot ETF As Bitcoin Barrels Past $37,000

FTX Legal Update: Sam Bankman-Fried’s Bail Appeal Denied Amid Legal Challenges

Will the Bullish Rally in Bitcoin and Cryptocurrencies Continue in the Coming Days?

Altcoin SUI Price Analysis: Can SUI Continue to Rise?

Short squeeze alert for November 23: Two cryptocurrencies with potential to skyrocket

Join our free newsletter for daily crypto updates!