The cryptocurrency market has witnessed a notable correction in the price of MATIC in recent days, the native asset of Polygon, the largest Ethereum scaling token. Despite positive indicators reflecting growth within the Polygon Network, MATIC's price has faced downward pressure, prompting concerns among investors and analysts alike.
Throughout March 2024, Polygon Network has experienced a steady increase in active addresses, indicating a growing user base and heightened network activity. On-chain metrics provided by Santiment further affirm this growth trend, with both the Network Growth metric and the Active Address chart demonstrating consistent upward trajectories. Such metrics typically signal positive developments within a blockchain ecosystem, reflecting increased adoption and usage.
MATIC's price stands at $1.05, highlighting a departure from its recent trading range. Insights from IntoTheBlock indicate that a decline below the current range could trigger further downside movement, potentially leading to a test of the $0.91 support level. This suggests that MATIC is currently navigating a critical juncture, with its price trajectory hinging on various market dynamics and investor sentiment.
Read full analysis on Cryptocrit.xyz
Throughout March 2024, Polygon Network has experienced a steady increase in active addresses, indicating a growing user base and heightened network activity. On-chain metrics provided by Santiment further affirm this growth trend, with both the Network Growth metric and the Active Address chart demonstrating consistent upward trajectories. Such metrics typically signal positive developments within a blockchain ecosystem, reflecting increased adoption and usage.
MATIC's price stands at $1.05, highlighting a departure from its recent trading range. Insights from IntoTheBlock indicate that a decline below the current range could trigger further downside movement, potentially leading to a test of the $0.91 support level. This suggests that MATIC is currently navigating a critical juncture, with its price trajectory hinging on various market dynamics and investor sentiment.
Read full analysis on Cryptocrit.xyz
