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>
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  <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">
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   <em>Crypto: 92% of MATIC addresses are out of money</em>
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<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> 
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<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

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