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MATIC’s Price Drops by 0.58% as the Downslope Pattern Holds

Published 12/31/2022, 04:36 PM
Updated 12/31/2022, 04:45 PM
MATIC’s Price Drops by 0.58% as the Downslope Pattern Holds
MATIC/USD
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  • Recent price study shows a declining market for Polygon (MATIC).

  • Technical indicators urge investors to be cautious in the near future.

  • In the midst of the decline, MATIC prices are facing resistance at $0.7633.

Polygon (MATIC) began the day with bullish dominance; however, after hitting an intraday high of $0.7633, the bulls began to lose ground. The bears pounced on the opportunity, and the MATIC price fell gradually until it reached support at $0.7516.

As of this writing, bears had succeeded in pushing the MATIC price down to $0.7574, a 0.58% slump.

This negative momentum has resulted in a 0.58% drop in market capitalization and a 6.60% drop in 24-hour trading volume, to $6,601,209,241 and $177,215,558 respectively.

MATIC/USD 24-hour price chart (source: CoinMarketCap)

Bollinger bands are contracting, with the upper band reaching $0.7803 and the lower band touching $0.7442, indicating th ...

The post MATIC’s Price Drops by 0.58% as the Downslope Pattern Holds appeared first on Coin Edition.

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