[Despite the high-profile Polygon 2.0 upgrade, MATIC prices continue to fall]

In the last 24 hours, despite the Polygon 2.0 upgrade, Polygon (MATIC) price plummeted to a low of $0.5458 and is currently trading at $0.5543, down 1.44% on the day. This fluctuation may be related to the rise after investors' profit-taking expectations escalated.

Coupled with Polygon’s Binance funding rate turning negative, it shows that the derivatives market is conservative towards MATIC. The continued increase in reserves on the exchange also suggests that MATIC is facing selling pressure. Its market capitalization and 24-hour trading volume fell by 1.46% and 18.80% respectively, indicating a decline in investor confidence.

MATIC/USD Technical Analysis

MATICUSD’s Bollinger Band, middle and lower rails are $0.567, $0.555 and $0.543 respectively, which tend to be downward, indicating that the price may continue to decline. The Stochastic RSI indicator reached 88.01, suggesting that MATIC is overbought and the price may correct lower.

Overall, despite the Polygon 2.0 upgrade, MATIC is still facing downward pressure in the short term.

#鴉快訊 $MATIC