{"id":395778,"date":"2024-05-30T07:30:30","date_gmt":"2024-05-30T02:00:30","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=395778"},"modified":"2024-05-30T09:44:26","modified_gmt":"2024-05-30T04:14:26","slug":"matics-price-action-is-concerning-are-bulls-losing-control","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/matics-price-action-is-concerning-are-bulls-losing-control\/","title":{"rendered":"MATIC&#8217;s price action is concerning: Are bulls losing control?"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><em><span style=\"font-weight: 400;\">MATIC showed bearish signs with a decrease in price and trading activity.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><em><span style=\"font-weight: 400;\">Despite network upgrades like Polygon 2.0, MATIC faced declines with a key support at $0.68.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The cryptocurrency market has corrected a bit, and <a href=\"https:\/\/ambcrypto.com\/category\/polygon-news\/\" target=\"_blank\" rel=\"noopener\">Polygon [MATIC]<\/a> is no exception. Per the current price action, MATIC bulls seemed to be struggling to maintain their momentum. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">With a 1% decrease in price over the past 24 hours and a noticeable slowdown in trading activity, the sentiment around MATIC appears to be turning bearish. Are the bears back?<\/span><\/p>\n<h4><b>MATIC turns bearish<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">MATIC&#8217;s <\/span><a href=\"https:\/\/app.santiment.net\/charts?settings=%7B%22slug%22%3A%22matic-network%22%2C%22ticker%22%3A%22MATIC%22%2C%22from%22%3A%222023-11-29T22%3A59%3A59.615Z%22%2C%22to%22%3A%222024-05-29T22%3A59%3A59.615Z%22%7D&amp;widgets=%5B%7B%22widget%22%3A%22HolderDistributionCombinedBalanceWidget%22%2C%22wm%22%3A%5B%22price_usd%22%2C%22percent_of_holders_distribution_combined_balance_1M_to_10M%22%2C%22rsi_4h%22%2C%22%5B2%3Bprice_usd%3BMA50%5D%22%2C%22%5B2%3Bprice_usd%3BMA200%5D%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%2C2%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%2326C953%22%2C%22%23F47BF7%22%2C%22%23FF5B5B%22%2C%22%23FFCB47%22%2C%22%235275FF%22%5D%2C%22ws%22%3A%7B%222%22%3A%7B%22interval%22%3A%224h%22%2C%22__appliedInterval%22%3Atrue%7D%7D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22supply_on_exchanges%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23F47BF7%22%2C%22%2326C953%22%5D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22mvrv_usd_30d%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23F47BF7%22%2C%22%2326C953%22%5D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22mvrv_usd_180d%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23F47BF7%22%2C%22%2326C953%22%5D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22mvrv_usd_365d%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23F47BF7%22%2C%22%2326C953%22%5D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22nvt%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23F47BF7%22%2C%22%2326C953%22%5D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22nvt_transaction_volume%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23F47BF7%22%2C%22%2326C953%22%5D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22circulation_1d%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23F47BF7%22%2C%22%2326C953%22%5D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22social_volume_total%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%2368DBF4%22%2C%22%2326C953%22%5D%2C%22ws%22%3A%7B%220%22%3A%7B%22interval%22%3A%221d%22%7D%7D%7D%2C%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22active_deposits%22%2C%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23F47BF7%22%2C%22%2326C953%22%5D%7D%5D&amp;layout=9990\"><span style=\"font-weight: 400;\">performance<\/span><\/a><span style=\"font-weight: 400;\"> has shown clear signs of deceleration, marked by a simultaneous dip in both price and NVT ratio. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Typically, an NVT ratio downturn suggests undervaluation, but given the concurrent price fall, it would also mean a bearish sentiment is taking hold among traders.<\/span><\/p>\n<figure id=\"attachment_395784\" aria-describedby=\"caption-attachment-395784\" style=\"width: 2048px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-purple.png\"><img decoding=\"async\" class=\"size-full wp-image-395784\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-purple.png\" alt=\"\" width=\"2048\" height=\"693\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-purple.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-purple-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-purple-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-purple-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-purple-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-purple-1200x406.png 1200w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><\/a><figcaption id=\"caption-attachment-395784\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Turning our attention to MATIC&#8217;s social volume, we see a similar trend. There is a clear divergence between its price trajectory and the social volume \u2014 they&#8217;re both tumbling.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The pronounced spikes in social volume in early February and mid-April, which closely align with price peaks, are absent in recent weeks, paralleling a more subdued price action.<\/span><\/p>\n<figure id=\"attachment_395785\" aria-describedby=\"caption-attachment-395785\" style=\"width: 2048px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-santiment-blue.png\"><img decoding=\"async\" class=\"size-full wp-image-395785\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-santiment-blue.png\" alt=\"\" width=\"2048\" height=\"693\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-santiment-blue.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-santiment-blue-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-santiment-blue-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-santiment-blue-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-santiment-blue-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-santiment-blue-1200x406.png 1200w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><\/a><figcaption id=\"caption-attachment-395785\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Recently, MATIC tested the MA200 as a resistance point but failed to sustain above it, indicating a bearish sentiment. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The RSI is currently near the midpoint at 51.59, suggesting a balance between buying and selling pressures without clear directional strength.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Should MATIC&#8217;s price drop below the $0.70 level, the next key support is likely near the $0.68 mark, a previous low from the consolidation phase earlier in the month.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, the resistance level is firmly established by the MA200 at approximately $0.7333. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A decisive break above this line could push MATIC towards the next resistance at around $0.74, followed by $0.78, which are recent highs before the price retracted.<\/span><\/p>\n<figure id=\"attachment_395786\" aria-describedby=\"caption-attachment-395786\" style=\"width: 2048px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-tv.png\"><img decoding=\"async\" class=\"size-full wp-image-395786\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-tv.png\" alt=\"\" width=\"2048\" height=\"1459\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-tv.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-tv-300x214.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-tv-1024x730.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-tv-768x547.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-tv-1536x1094.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/matic-jai-tv-1200x855.png 1200w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><\/a><figcaption id=\"caption-attachment-395786\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<h4><b>What\u2019s been going on with Polygon?<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Beyond price and trading volumes, it&#8217;s important to consider Polygon&#8217;s network activity. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recently, the team <\/span><a href=\"https:\/\/x.com\/0xPolygon\/status\/1795134862887649294\"><span style=\"font-weight: 400;\">unveiled<\/span><\/a><span style=\"font-weight: 400;\"> Polygon 2.0 and the Polygon Improvement Proposals (PIPs). These proposals include the transition to a new token, POL.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"https:\/\/ambcrypto.com\/predictions\/matic-network-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Polygon [MATIC] Price Prediction<\/a>\u00a02024-2025<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">This token would enable a one-to-one migration from MATIC with a new emission mechanism. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The potential impact of these upgrades on Polygon&#8217;s network activity and MATIC&#8217;s price action will depend heavily on community participation and the successful implementation of the proposals.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MATIC\u2019s trading activity and price have plunged. The bulls might be sitting this rally out.<\/p>\n","protected":false},"author":90,"featured_media":395787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[6427],"class_list":["post-395778","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>MATIC&#039;s price action is concerning: Are bulls losing control? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"MATIC\u2019s trading activity and price have plunged of late, showing that the Bulls might be sitting this rally out.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/matics-price-action-is-concerning-are-bulls-losing-control\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MATIC&#039;s price action is concerning: Are bulls losing control? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"MATIC\u2019s trading activity and price have plunged. 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