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?

목차

CoinPedia News

2024년 6월 26일에 게재된 다른 기사

Mt. Gox Creditors to Receive Fewer Bitcoins Than Expected, Easing Market Pressure

Bitcoin, Ethereum, Dogecoin Bottom Out As US Government Wallet Sends $240M BTC To Coinbase

Negative Trend in US Spot Bitcoin Exchange Traded Funds (ETFs) Ended! How Many Entries Have Been ...

Florida Judge Sentences CEO for Crypto Price Manipulation

Behind the Blast Phenomenon: A Closer Look at the Fastest Growing Chain in Crypto

MoonBag Dominates Top Crypto Presale in June 2024 while Bonk and Shiba Inu Struggle to Keep Up

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!