Polygon (MATIC), the high-speed scaling solution for Ethereum, has been on a rollercoaster ride this month. After a brutal price correction that saw MATIC tumble over 20%, a recent 24-hour surge has injected a dose of optimism into the market. But is this a sign of a full recovery, or a temporary reprieve before further decline? Related Reading: XRP Sees Over $12 Million Sell-Off: Whale Warning Or Buying Opportunity? Polygon’s Price Plunge: A Reality Check CoinMarketCap data paints a sobering picture. MATIC has been steadily dropping down the ranks of the top 20 cryptocurrencies, currently sitting at number 18. This decline coincides with a significant price drop, with MATIC losing over a quarter of its value in the last 30 days. Analysts like World of Charts point to the descending channel pattern on MATIC’s daily chart, a classic indicator of a bearish trend. For a true price recovery, MATIC needs to overcome a crucial hurdle: the $0.77 resistance level. A breakout above this point could trigger a significant bull run to the $1 dollar level, but the climb won’t be eas ..
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