Short
Polygon's MATIC is down bad right now
BINANCE:MATICUSDT
On June 10, Polygon plummeted below the crucial support level of $0.69, clearly indicating the firm control of bears. However, there is a minor consolation for buyers as the price recovered sharply from the strong support near $0.50, as evidenced by the long tail on the candlestick.
The MATIC/USDT pair will attempt a bounce, but it is likely to face significant selling pressure at the breakdown level of $0.69. If the price turns downwards from this level, it will indicate that bears are attempting to turn $0.69 into resistance, potentially leading to a retest of $0.50. For bulls to initiate a sustained recovery, they will need to drive and maintain the price above the 20-day EMA ($0.79).
On June 10, Polygon plummeted below the crucial support level of $0.69, clearly indicating the firm control of bears. However, there is a minor consolation for buyers as the price recovered sharply from the strong support near $0.50, as evidenced by the long tail on the candlestick.
The MATIC/USDT pair will attempt a bounce, but it is likely to face significant selling pressure at the breakdown level of $0.69. If the price turns downwards from this level, it will indicate that bears are attempting to turn $0.69 into resistance, potentially leading to a retest of $0.50. For bulls to initiate a sustained recovery, they will need to drive and maintain the price above the 20-day EMA ($0.79).
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