MATIC price is currently undergoing a correction. Over the last 24 hours, the coin has lost more than 4% of its market value. Signs on the chart currently suggest that MATIC is going to remain in the correction territory for some time.
All the gains that Polygon (MATIC) secured in the past week were undone due to the loss on the daily chart. Technical outlook also implied that the price momentum for the altcoin was regressive and demand for the altcoin declined over the past few days.
From the daily chart reading, it is difficult to ascertain where the MATIC price will find support. The altcoin is depicting signs of significant resistance in both the shorter and longer time frame. A bullish reversal seems unlikely as buyers have lost confidence in the asset.
For MATIC the past few months have been quite tough as the coin continued to fall despite reserving the $1.31 price mark for some time in the past month. At the present moment, MATIC is trading at a 69% low compared to its all-time
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