Esteemed cryptocurrency trader, Ali (@ali_charts), utilized the Twitter platform this morning to impart fresh perspectives on Polygon (MATIC). As per the analyst’s tweet, a staggering 52,410 addresses procured 4.81 billion MATIC within the $0.9 to $1 range, culminating in a robust support system that may impede MATIC’s price from plummeting to new depths shortly.
According to the analyst’s post, MATIC’s breakout hinges on its ability to overcome the upcoming resistance level, which falls within the $1.14 to $1.30 range. Ali’s tweet also revealed that approximately 48,760 addresses possess 1.66 billion MATIC near this resistance.
As of the latest update, MATIC finds itself among the top 10 cryptocurrencies experiencing a dip in trading. According to CoinMarketCap, the current value of MATIC stands at $1.09, reflecting a 3.29% increase in price over the past 24 hours. While the altcoin did reach a high of $1.13 during this period, it has since settled at its 24-hour low of $1.09.
Upon analyzing MATIC’s weekly performance, it is evident that the altcoin’s 24-hour price dip has exacerbated its negative weekly performance, pushing it further into the red. MATIC’s price has plummeted by over 5% in the last seven days. However, there is a glimmer of hope as MATIC’s 24-hour trading volume has surged by more than 1%, currently at $262,743,802 and residing in the green zone.
With a market capitalization of $10,086,794,591, MATIC has secured its position as the 9th largest cryptocurrency. It stands just behind Dogecoin (DOGE) at the 8th spot and ahead of Solana (SOL) at the 10th position. This impressive feat is a testament to the growing popularity and adoption of MATIC among investors and traders alike.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
