MATIC is on the verge of hitting its local bottom of $1.21, as the market has lost three days in a row. In fact, it was only 11.4% away from the aforementioned level at the time of publication. On Tuesday, the price of Polygon (MATIC) moves in a narrow range. Since February 16, MATIC has been on a steady downward trend, with a 35 percent drop. The creation of a triple bottom near $1.40 signals that the present trend will be reversed. MATIC Falls Close To Bottom MATIC/USD is now trading at $1.42, down 0.31% on the day. The 16th most valuable cryptocurrency by market capitalization had a 24-hour trading volume of $1,758,620,513 with an increase of more than 100%. MATIC/USD trades at $1.4. Source: TradingView As soon as MATIC broke the neckline of the outlined trading pattern, the selling pressure increased. Sellers continue to liquidate their positions as the price falls below the 200 EMA and 50 EMA critical levels. Finally, at $1.40, the downside finds some solid support. On the other hand, if the price breaks through the numerous support, the immediate downside objective is $1.03. The last time the levels were seen was in September. Because it has already happened twice in the last 45 days, another sell-off is possible. In the week leading up to the 13 January crisis, 249 million MATIC worth $339 million were traded on exchanges. Related Reading | Polygon ’s Side Of The Story: Hard-Fork Resolved A “Critical Vulnerability”...
