Summary
TLDR: The price of Polygon (MATIC) is showing signs of resurgence with an increase in daily active addresses, supported by RSI 7D, indicating potential for further buying. However, caution is advised as EMA lines suggest ongoing consolidation. Investors should consider these contrasting signals carefully. Active addresses have grown, RSI shows room for growth, but EMA lines are not bullish.
Key Points
1. The price of Polygon (MATIC) is witnessing a resurgence, indicated by a recovery in daily active addresses following steep declines. This uptick, supported by the RSI 7D, suggests potential for further buying that could boost MATIC’s price.
2. However, caution is advised as EMA lines point towards ongoing consolidation, hinting at a less bullish outlook for MATIC in the near term. Investors should weigh these contrasting signals carefully.
3. Polygon Active Addresses Are Growing Again. Polygon (MATIC) experienced a significant milestone on March 14, when the number of daily active addresses soared to 3,301, coinciding with a price surge to $1.27, marking its highest value since February 2023.