Plunge

Convergence

Polygon

Divergence

<p>The post <a href="https://coinpedia.org/price-analysis/is-matic-price-dead-will-polygon-price-make-a-comeback-or-plunge-to-0-50-this-july/" rel="noopener noreferrer nofollow">Is MATIC Price Dead? Will Polygon Price Make A Comeback Or Plunge To $0.50 This July?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The crypto market has recorded a consolidated price action after trading under a bearish sentiment for over a week, giving its investors a sign of relief. However, the altcoin leader, <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noopener noreferrer nofollow">Ethereum Price</a>, continues its struggle to surpass the $3.4K mark, resulting in top altcoins recording a price similar trend.</p>
<p>Furthermore, Ethereum’s Layer-2 (L2) project, the <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Polygon price</a> has continued to display a negative price action, highlighting a rising disinterest of investors in this crypto token. With the increasing market volatility, will Polygon (MATIC) price make a comeback or plunge to new lows?</p>
<h2 class="wp-block-heading" id="h-polygon-price-hints-a-bullish-reversal">Polygon Price Hints A Bullish Reversal?</h2>
<p>Amid increased bearish sentiment in the cross-border market, the <a href="https://markets.coinpedia.org/polygon/" target="_blank" rel="noopener noreferrer nofollow">MATIC price</a> has dropped 1.21% within the past 24 hours with a plunge of 33.42% in its trading volume. Further, the Polygon token has lost 21.99% within the past 30 days and has erased 42.24% in valuation this year.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdfyaYB0VYDsLj5C4PSds1i7I7c8KBNt1k3rHJ1Oqb7VTTK5fj4c6utNhwXbjn1oHsy6bBXubIcifoYZvbXz1O0e8eEkZt8CrhcWvvUE8Drl74w1qgPxsjyghfrCzCyeVJiE-IhX7xvANQpZj3mnC9ERbR0?key=cHmY0qTIMZx8sjM1zXsedg" alt="MATIC Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: MATIC/USDT
 </figcaption>
</figure>
<p>Furthermore, the Polygon coin price has formed a triangle pattern in the 1D time frame and has continued to trade within it since mid-March. Moreover, the altcoin is on the verge of breaking the pattern, the outcome of which is unpredictable.</p>
<p>With a trading price of $0.5597, a circulating supply of 9,874,443,895 MATIC, and a total supply of 10 Billion MATIC tokens, the Polygon crypto has successfully secured the 19th position in the global cryptocurrency list with a market capitalization of $5.535 Billion.</p>
<h2 class="wp-block-heading" id="h-matic-market-sentiments">MATIC Market Sentiments:</h2>
<p>The Moving Average Convergence Divergence (MACD) has recorded a constant decline in the red histogram, indicating increased price action for MATIC crypto in the market. Moreover, the averages record a high possibility of a bullish convergence, suggesting a potential bullish outlook.</p>
<p>On the other hand, the technical indicator, SMA is on the verge of experiencing a positive crossover, highlighting an increase in the buying and selling pressure for the Polygon token in the crypto space.</p>
<h2 class="wp-block-heading" id="h-will-polygon-reach-1-in-2024">Will Polygon Reach $1 In 2024?</h2>
<p>If the market regains momentum, the MATIC coin price will start trading under a bullish sentiment and test its resistance trendline of the triangle pattern. Maintaining the price at that level will boost the Polygon price toward its upper resistance level of $0.690 in the coming time.</p>
<p>Conversely, if the bears continue to dominate the bulls, the MATIC price will plunge toward its crucial support level of $0.50 during the upcoming weeks.</p>

Is MATIC Price Dead? Will Polygon Price Make A Comeback Or Plunge To $0.50 This July?

Table of Contents

CoinPedia News

Other articles published on Jun 26, 2024

Unlocking MoonBag Staking Rewards: Why Investors Prefer MoonBag Over Fantom and Tron

Solana Surges Toward $140 Despite Bearish Network Activity: Will Sellers Defend SOL Price?

Investors Monitor Token Unlock Events in the Crypto Market

Grayscale Bitcoin ETF Marks $30 Million Outflows Amid Spring Back

Ordinal Hive and Merlin Chain partners to create the first Ordinal trading protocol

South Korean-based Hashed Ventures Announces Abu Dhabi Expansion

Join our free newsletter for daily crypto updates!