{"id":444310,"date":"2024-11-20T17:30:26","date_gmt":"2024-11-20T12:00:26","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=444310"},"modified":"2024-11-20T14:10:32","modified_gmt":"2024-11-20T08:40:32","slug":"81-60-polygon-holders-underwater-but-is-a-recovery-ahead","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/81-60-polygon-holders-underwater-but-is-a-recovery-ahead\/","title":{"rendered":"81.60% Polygon holders underwater- But is a recovery ahead?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">POL declined by over 5% in the last 24 hours.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">Network growth has also continued to drop.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/category\/polygon-news\/\" target=\"_blank\" rel=\"noopener\">Polygon [POL]<\/a> holders faced challenging times, as on-chain data revealed that 81.60% were &#8216;out of the money&#8217; at press time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This metric, which tracks the profitability of wallet addresses based on their token purchase prices relative to the current market price, suggests that most holders are at a loss. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">With POL struggling to regain bullish momentum amid bearish market conditions, this data raises the question: is this a sign of capitulation or the groundwork for a recovery?<\/span><\/p>\n<h2><b>Polygon&#8217;s price struggles<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The &#8216;In\/Out of the Money&#8217; chart from <a href=\"https:\/\/app.intotheblock.com\/coin\/MATIC\/deep-dive?group=all&amp;chart=all\" target=\"_blank\" rel=\"noopener\">IntoTheBlock<\/a> painted a stark picture. The dominance of red zones indicated that most holders were underwater, with only a small fraction in profit. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This imbalance correlated with <a href=\"https:\/\/ambcrypto.com\/will-polygon-break-the-0-4282-resistance-reach-0-5652-gauging\/\" target=\"_blank\" rel=\"noopener\">Polygon&#8217;s<\/a> extended price decline throughout 2024, reflecting broader market trends as well as specific challenges facing the Polygon ecosystem.<\/span><\/p>\n<figure id=\"attachment_444311\" aria-describedby=\"caption-attachment-444311\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/ITB_matic_historical_in_out_of_the_money_ethereum_2024-11-19T20_20_35.990Z.png\"><img decoding=\"async\" class=\"wp-image-444311 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/ITB_matic_historical_in_out_of_the_money_ethereum_2024-11-19T20_20_35.990Z.png\" alt=\"Polygon holders\" width=\"1200\" height=\"800\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/ITB_matic_historical_in_out_of_the_money_ethereum_2024-11-19T20_20_35.990Z.png 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/ITB_matic_historical_in_out_of_the_money_ethereum_2024-11-19T20_20_35.990Z-300x200.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/ITB_matic_historical_in_out_of_the_money_ethereum_2024-11-19T20_20_35.990Z-1024x683.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/ITB_matic_historical_in_out_of_the_money_ethereum_2024-11-19T20_20_35.990Z-768x512.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption id=\"caption-attachment-444311\" class=\"wp-caption-text\">Source: IntoTheBlock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Periods like these often see increased selling pressure as frustrated holders exit their positions, exacerbating the downtrend. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, they can also mark a market bottom if long-term investors step in, attracted by the prospect of discounted prices. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Historically, such high percentages of loss-making holders have sometimes been a precursor to recovery phases.<\/span><\/p>\n<h2><b>Technical indicators paint a mixed picture<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The TradingView chart provided further insight into <a href=\"https:\/\/ambcrypto.com\/polygon-why-0-37-0-38-support-levels-are-key-for-pol-to-rally\/\" target=\"_blank\" rel=\"noopener\">Polygon&#8217;s<\/a> performance. Notably, the 50-day Moving Average(MA) sat above the 200-day MA, reflecting a near-term bullish cross. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, POL remained below these critical levels, suggesting that momentum was still bearish.<\/span><\/p>\n<figure id=\"attachment_444313\" aria-describedby=\"caption-attachment-444313\" style=\"width: 1491px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/POLUSD_2024-11-20_06-09-50.png\"><img decoding=\"async\" class=\"size-full wp-image-444313\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/POLUSD_2024-11-20_06-09-50.png\" alt=\"POL's price trend\" width=\"1491\" height=\"740\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/POLUSD_2024-11-20_06-09-50.png 1491w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/POLUSD_2024-11-20_06-09-50-300x149.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/POLUSD_2024-11-20_06-09-50-1024x508.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/POLUSD_2024-11-20_06-09-50-768x381.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/POLUSD_2024-11-20_06-09-50-1200x596.png 1200w\" sizes=\"(max-width: 1491px) 100vw, 1491px\" \/><\/a><figcaption id=\"caption-attachment-444313\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The MACD indicator highlighted a weakening bullish momentum, with the histogram bars showing a potential reversal. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the RSI hovered around 59, a neutral zone indicating consolidation rather than strong directional movement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> To regain positive traction, POL must break above resistance levels at $0.50 and $0.55 while maintaining consistent trading volume.<\/span><\/p>\n<h2><b>A sign of recovery or decline?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">On-chain activity, as captured by Santiment&#8217;s network growth chart, revealed fluctuations in <a href=\"https:\/\/ambcrypto.com\/polygon-can-network-growth-help-pol-overcome-selling-pressure\/\" target=\"_blank\" rel=\"noopener\">Polygon&#8217;s<\/a> ecosystem engagement. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recent spikes in network activity show intermittent interest in the platform, but the declining trend since early November reflects waning user and developer participation.<\/span><\/p>\n<figure id=\"attachment_444315\" aria-describedby=\"caption-attachment-444315\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Polygon-Ecosystem-Token-POL-06.10.58-20-Nov-2024.png\"><img decoding=\"async\" class=\"size-full wp-image-444315\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Polygon-Ecosystem-Token-POL-06.10.58-20-Nov-2024.png\" alt=\"Polygon's network growth\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Polygon-Ecosystem-Token-POL-06.10.58-20-Nov-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Polygon-Ecosystem-Token-POL-06.10.58-20-Nov-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Polygon-Ecosystem-Token-POL-06.10.58-20-Nov-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Polygon-Ecosystem-Token-POL-06.10.58-20-Nov-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Polygon-Ecosystem-Token-POL-06.10.58-20-Nov-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Polygon-Ecosystem-Token-POL-06.10.58-20-Nov-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Polygon-Ecosystem-Token-POL-06.10.58-20-Nov-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-444315\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Strong network activity and ecosystem developments are essential for POL to regain footing.<\/span><\/p>\n<h2><b>Outlook for Polygon<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Polygon&#8217;s current state reflected a difficult phase for its holders and ecosystem. With 81.60% of POL holders at a loss, market sentiment appears bleak. <\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">\u00a0Is your portfolio green? Check out the <a href=\"https:\/\/ambcrypto.com\/calculator\/profit\" target=\"_blank\" rel=\"noopener\">POL Profit Calculator<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">However, such conditions have historically served as turning points, offering opportunities for long-term investors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">POL&#8217;s trajectory depends on its ability to reclaim key technical levels and reinvigorate network growth. While the data indicates caution, it also presents a potential setup for recovery if broader market conditions improve.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon holders are feeling the pressure, highlighting bearish market sentiment. <\/p>\n","protected":false},"author":76,"featured_media":444324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,6382,4,20],"tags":[6427],"class_list":["post-444310","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-polygon-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>81.60% Polygon holders underwater- But is a recovery ahead? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Polygon faces tough times as over 80% of holders are at a loss. 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