It makes sense to sell MATIC at its current price level to cash out from the recent rally. This decision might particularly be enforced by the slight pullback that it has achieved from its latest top. However, there is still potential for more upside that investors should consider. The latest bullish uptick since mid-June allowed […]
It makes sense to sell MATIC at its current price level to cash out from the recent rally.
This explains the 12% retracement that has taken place since then, to MATIC’s press time price of $0.86.A key highlight of MATIC’s current price action is that the retracement was characterized by low momentum. This either means that there is still some bullish pressure preventing a deeper bearish performance, or many MATIC investors are still holding on to their coins.MATIC’s supply distribution confirms the subsiding selling pressure, especially from addresses holding more than one million coins. The addresses that currently hold the largest share of MATIC coins in circulation have stopped selling, thus explaining the reduced sell pressure.
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