Short
Polygon's MATIC in a freefall??
BINANCE:MATICUSDT
On June 6, Polygon slipped below the $0.82 support level, but the bulls swiftly bought the dip, as evident from the long tail on the candlestick. However, the bears had different intentions and aggressively sold on June 7, pulling the price below the previous day's low of $0.79.
This indicates a resumption of the downtrend, with the MATIC/USDT pair potentially dropping to the strong support at $0.69. To prevent further decline, the bears would need to promptly push the price back above $0.82, potentially trapping aggressive bears and triggering a short squeeze that could push the price towards $0.94.
On June 6, Polygon slipped below the $0.82 support level, but the bulls swiftly bought the dip, as evident from the long tail on the candlestick. However, the bears had different intentions and aggressively sold on June 7, pulling the price below the previous day's low of $0.79.
This indicates a resumption of the downtrend, with the MATIC/USDT pair potentially dropping to the strong support at $0.69. To prevent further decline, the bears would need to promptly push the price back above $0.82, potentially trapping aggressive bears and triggering a short squeeze that could push the price towards $0.94.
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