After an impressive run along with the rest of the crypto market, Polygon’s native token – MATIC – lost approximately 15% of its value over the past week dragging its price to $0.77. Experts suggest that this level is far below the crucial support zone.
If the price continues to stay below this range, there is an increased risk that these holders may begin selling to prevent substantial losses.
According to prominent crypto analyst Ali Martinez, MATIC has fallen beneath a critical supply range, ranging from $0.84 to $0.86. Within this interval, more than 14,240 addresses hold over 4.13 billion MATIC.
The analyst mentioned that should MATIC’s price persist below the designated zone, it becomes more likely that those who purchased in the range might opt to sell in order to mitigate potential losses, thereby contributing to a further decline in MATIC’s price.
$MATIC has slipped below a crucial supply zone, spanning $0.84 to $0.86. In this range, 14,240 addresses hold over 4.13 b
We współpracy z: https://cryptopotato.com/is-the-matic-bull-run-over-sell-off-looms-as-price-lingers-below-key-zone/
