Polygon Price Feels The Heat As MATIC Retreats To $0.60

After its bullish shindig seen last week, Polygon (MATIC) price is now going the opposite direction as it continues to plunge to $0.60. MATIC is seen to have plummeted by more than 20% in comparison to its peak high of $0.97 as seen in the past couple of days.

Timeline of Polygon

Polygon price analysis reveals that the cryptocurrency has been following a bearish trend displaying further opportunities for reversal activities, with the price of MATIC/USD moving under the $0.82 mark. On July 26, 2022, the cost of Polygon experienced a flash crash and reached $0.74, but it further increased to $0.0.

The average transaction cost on Polygon (MATIC) declined 49% to $0.018 during the second quarter, according to statistics released on July 26. The post Polygon's Q2 data shows significant growth in the ecosystem appeared first on CryptoSlate.

Web3 giants Polygon and Orbs join hands with DeFi.Org to unleash new opportunities in the DeFi ecosystem. Four winning DeFi projects will bring unique features and use-cases to evolving DeFi landscape using Polygon and Orbs infrastructure.

July 26, 2022 – Tel Aviv, Israel After announcing the launch of a special DeFi accelerator program in May, layer two scaling solution Polygon – in partnership with layer three blockchain infrastructure solution Orbs and community-led DeFi accelerator platform DeFi.org – has selected four program participants from a field of applicants.

The Polygon (MATIC) price continues with its downside momentum following the break of the week-long rally. Currently, the price finds no sign of slowing down after dropping below the psychological $0.80 mark.

Polygon price analysis for today reveals a relatively negative outlook after a bearish trend yesterday. The market opened at $0.87 and traded between an intraday high of $0.88 and a low of $0.84 before closing the day 4.97 percent lower at $0.832.The bulls are currently defending the $0.

Polygon price analysis is bullish again, after price rose more than 7 percent over the past 24 hours to move as high as $0.8946. MATIC had been in a horizontal channel since July 20, 2022, after initially forming a significant uptrend to move up to $0.98 on July 18.

Since last week, the MATIC/USDT pair has been consolidating in a short range, reflecting high volatility in the market. However, this consolidation shaped into a pennant pattern, offering a recovery opportunity for traders.

It makes sense to sell MATIC at its current price level to cash out from the recent rally. This decision might particularly be enforced by the slight pullback that it has achieved from its latest top.

The MATIC token could face a new correction despite looking shaky as the technical indicators show so let's have a closer look at our latest altcoin news today. The MATIC token could face a new correction after soaring over the past month and it seems to be entering overbought territory.