While several cryptos turned bullish last week, Polygon [MATIC] bulls took a side seat as its price moved marginally.
Market indicators suggested that MATIC might turn bullish.However, if MATIC manages to meet one major condition, then it might showcase a tremendous price surge in the coming days, which can allow it to regain a spot on the top 20 list.revealed that MATIC’s price increased marginally over the last seven days. A similar trend was also noted in its 24-hour chart.
Because of the massive drop in price over several months, only 2% of MATIC investors were in profit, as per IntoTheBlock’sThis also had a negative impact on Polygon’s social metrics as its Weighted Sentiment went into the negative zone. This suggested that bearish sentiment around it increased.that hinted at a MATIC bull rally.
AMBCrypto then took a closer look at the token’s on-chain data to find out the odds of it closing above $0.30. We found that MATIC’s trading volume declined over the last week. However, its Supply on Exchanges increased slightly over the past few days, indicating that selling pressure was high.AMBCrypto then checked Polygon’s daily chart to find out what market indicators hinted at. The technical indicator MACD displayed a bullish crossover.
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