Convergence

Worried

Polygon

Divergence

<p><strong>In the volatile world of crypto, Polygon’s MATIC token recently made headlines for a concerning reason: an overwhelming majority of 92.91% of MATIC addresses are currently out of money. This means the value of their holdings is now lower than their purchase price!</strong></p> 
<h2 id="h-polygon-matic-is-falling-the-data-is-alarming">Polygon (MATIC) is falling! The data is alarming&nbsp;</h2> 
<p>Polygon (MATIC) has fallen by 0.22% in the last 24 hours, and 92% of the addresses are out of money. This alarming situation has been exacerbated by <a href="https://www.cointribune.com/en/bitcoin-drops-by-14-in-the-2nd-quarter/" target="_blank" rel="noreferrer noopener">the token’s drop</a> to a nine-month low! This is raising concerns among crypto investors and traders. The price of MATIC is currently below the 50 and 200-period moving averages. Generally, this is a sign of a short-term bearish trend. The bearish pressure is palpable, but could we see a trend reversal soon?</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" width="1024" height="445" src="https://www.cointribune.com/app/uploads/2024/06/IMG_6368-1024x445.png" alt="92% of Polygon (MATIC) crypto addresses are out of money." class="wp-image-704994" srcset="https://www.cointribune.com/app/uploads/2024/06/IMG_6368-1024x445.png 1024w, https://www.cointribune.com/app/uploads/2024/06/IMG_6368-300x130.png 300w, https://www.cointribune.com/app/uploads/2024/06/IMG_6368-768x334.png 768w, https://www.cointribune.com/app/uploads/2024/06/IMG_6368.png 1536w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>Crypto: 92% of MATIC addresses are out of money</em>
  </figcaption>
 </figure>
</div> 
<h2 id="h-a-potential-reversal-in-the-crypto-situation">A potential reversal in the crypto situation?</h2> 
<p>The Moving Average Convergence Divergence (MACD) seems to indicate that a bullish crossover could be imminent, despite the current bearish momentum. Moreover, the consolidation around current price levels, combined with a potential bullish MACD crossover, suggests that crypto buyers might be slowly gaining strength. This could be the key to regenerating bullish strength in the altcoin market.</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noreferrer noopener">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">This link uses an affiliate program.</a> 
</div> 
<p>Despite the dominance of bears in the crypto market, entry volumes on exchanges have seen major spikes! A typical indicator of selling pressure as investors move their tokens to exchanges, possibly to sell. However, recent <a href="https://fr.tradingview.com/symbols/MATICUSD/" target="_blank" rel="noreferrer noopener">MATIC</a> trends reveal a steady decline in entries, which means immediate selling pressure could be diminishing. For a bullish reversal to gain momentum, market sentiment needs a massive bullish trigger, whether it is related to the network or broader economic trends.</p> 
<p>In conclusion, while the current situation for MATIC may seem bleak, technical indicators and trading activities offer a glimmer of hope for a potential bullish reversal. Crypto investors and traders should remain vigilant and closely monitor <a href="https://www.cointribune.com/en/crypto-china-could-restore-mining-4-billion-at-stake/" target="_blank" rel="noreferrer noopener">these developments</a> to navigate these tumultuous waters prudently.</p>

Crypto: 92% of MATIC Addresses Empty! Investors are Worried

목차

Cointribune EN

2024년 7월 1일에 게재된 다른 기사

Solana ETF News Pumps SOL Price - Best Solana Tokens To Watch

With High Volume & OI, Can ZRO Price Rise To The $10 Mark?

Polkadot’s development activity takes a dip: What this means for DOT

Dogecoin Is 'Something To Keep An Eye On' For The First Time In Months, Says Trader

Philippines adopts Tether’s USDT for social security payments

BTC Forms Bullish Giant Cup and Handle Pattern, New ATH Soon?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!