Is Polygon Coin a Buy at $0.6 Dip? On-Chain Metrics Suggest an Oversold Asset

Quick Summary:

Over the past seven weeks, the Polygon coin price has witnessed a steady downtrend under the influence of a falling wedge.

The two downsloping trendlines of this pattern acted as dynamic resistance and support, leading the MATIC price from $1.29 to $0.588, registering a 54.3% loss.

This confluence of indicators is often interpreted by traders as a signal that an asset is undervalued and could be poised for a rebound, marking what could be an optimal entry point for investors.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Sahil Mahadik

Category: Crypto

Markets: India

Topics: Polygon price analysis Matic Network (MATIC) Price Analysis

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-25 @ 03:56:44 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 352 words

Reading Time: 2 minutes read

Sentences: 25 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20781776

View Article Analysis

About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 59 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 19 minutes ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #59

Publisher Details

Frequently Asked Questions