Despite the short recovery, the MATIC coin price reverses its course to take a bearish turn. This represents a sharp and sudden increase in selling pressure. The MATIC price falls below the $0.65 mark and approaches the crucial bottom support at $0.60.
This is a significant level of support, and if the price breaks below it, it could lead to further declines. However, if the price can hold above $0.60, it could start to recover.
The spike in intraday trading volume intensified the 5.97% drop last night as the MATIC prices broke under $0.65.
The selling pressure was so intense that it caused the price to drop below $0.65. The crazy selling trend continued today, with a 3.02% fall. At the time of writing, the price of MATIC is at $0.60, and it will likely continue to fall until it reaches the support zone at $0.55.
The sharp selling pressure in altcoins makes it difficult for MATIC to find a reversal point. However, the solid bullish dominance at the $0.60 support level could absorb the selling pressure. This means buyers may find the drop to $0.60 a good entry point.
If the market reverses and moves higher, MATIC could reach the 50-day EMA, close to $0.70. However, if the price drops below $0.60, it could test the psychological level of $0.50.
This is a significant level of support, and if the price breaks below it, it could lead to further declines. However, if the price can hold above $0.60, it could start to recover.
The spike in intraday trading volume intensified the 5.97% drop last night as the MATIC prices broke under $0.65.
The selling pressure was so intense that it caused the price to drop below $0.65. The crazy selling trend continued today, with a 3.02% fall. At the time of writing, the price of MATIC is at $0.60, and it will likely continue to fall until it reaches the support zone at $0.55.
The sharp selling pressure in altcoins makes it difficult for MATIC to find a reversal point. However, the solid bullish dominance at the $0.60 support level could absorb the selling pressure. This means buyers may find the drop to $0.60 a good entry point.
If the market reverses and moves higher, MATIC could reach the 50-day EMA, close to $0.70. However, if the price drops below $0.60, it could test the psychological level of $0.50.
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