Why is MATIC Price Falling? Notable Data and Important Levels

Polygon (MATIC) price is trying to overcome a critical resistance that keeps the altcoin price stuck in two limits. What makes this process worse is that investors are not very keen on holding the asset and probably prefer to offset their losses. MATIC price may be declining due to the actions of asset owners. In the last few days The lack of an increase in price caused investors to notice a sell sign flashing on the network

This process can be seen in the difference in daily active addresses (DAA) in price. This is a phenomenon where the price of a cryptocurrency and the number of daily active addresses move in opposite directions. This difference can indicate that the asset is potentially overvalued or undervalued. However, in the case of MATIC, both the price and Participation also drops. This causes the network to issue a sell signal that retail investors can follow.

It is clear that whales have also followed this path in their recent transactions. Addresses holding 1 to 10 million MATIC tokens sold more than 23 million MATIC. This $17 million offering sold in four days brought their assets to 913 million MATIC.

MATIC Chart Analysis

MATIC price has consolidated within the $0.75 and $0.64 limits over the past month. These two price points have been tested many times as both resistance and support respectively. The above-mentioned conditions underscore similar potential outcomes as investors are not particularly bullish. Altcoin ,may drop from the current trading price of $0.69 to $0.64

The neutral bearish thesis will be invalidated if MATIC price breaks out or breaks. A breakout will cause the altcoin to rise to $0.80, while a drop below $0.64 will cause it to fall to $0.60

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