Polygon

<p>Polygon (MATIC) has seen a slight rebound today after falling below what analyst Ali described as a “crucial supply zone” earlier this week. MATIC is currently trading around $0.78, up roughly 3% in the last 24 hours.</p>
<p>Popular crypto analyst Ali <a href="https://x.com/ali_charts/status/1727582067536400747?s=20" target="_blank" rel="noopener noreferrer nofollow">posted</a> a warning on X (former Twitter) about the token slipping under the $0.84 to $0.86 range. As Ali explained, over 14,000 addresses hold more than 4 billion MATIC in this price band.</p>
<p>If the price were to stay below this level for an extended period of time, Ali cautioned that some of these holders may start selling to cut losses.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="381" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-617-1024x381.png" alt="" class="wp-image-383366" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-617-1024x381.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-617-300x112.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-617-767x285.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-617-1536x571.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-617-2048x761.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-617-404x150.png 404w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-617-100x37.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-617-942x350.png 942w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-617-788x292.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>MATIC did spend the next couple hours struggling to regain the $0.84 support level. However, it seems the token has found its footing today with its 3% bounce back. Still, MATIC remains below the key supply zone Ali identified, currently sitting around $0.78.</p>
<p>It remains to be seen whether this mini-rally will be enough to keep those 14,000 addresses from panic selling. Some Polygon investors on X have expressed optimism that MATIC may be carving out a bottom. However, other analysts warn there could be more downside if overall crypto market conditions worsen.</p>
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<p>Going forward, the $0.84 to $0.86 range seems poised to act as an important inflection point for MATIC’s price action. A decisive break back above this supply zone could signal a bullish shift in market sentiment. But failure to recover this level could open the door for a steeper selloff as nervous holders throw in the towel. MATIC investors may want to keep a close eye on this key price region.</p>
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<p>The post <a href="https://captainaltcoin.com/popular-crypto-analyst-issues-a-warning-sign-to-polygon-matic-holders/" rel="noopener noreferrer nofollow">Popular Crypto Analyst Issues a Warning Sign to Polygon (MATIC) Holders</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Popular Crypto Analyst Issues a Warning Sign to Polygon (MATIC) Holders

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