Summary
TLDR: Polygon (MATIC) is showing mixed signals with increased whale activity indicating optimism for price increase, while daily active addresses are declining. Supply on exchanges has stabilized, suggesting a consolidation phase. Price prediction indicates significant resistance levels ahead, with potential for stabilization before a decisive move based on market sentiment. Future price direction depends on overcoming resistance levels, with a bearish trend possibly leading to a retreat to lower support levels or a bullish trend pushing MATIC towards $1.30.
Key Points
1. Polygon (MATIC) is showing signs of a complex pattern with an increase in whale activity and a decrease in daily active addresses.
2. The confluence of on-chain metrics suggests mixed sentiment within the market, with whales potentially “buying the dip” while daily active addresses decline, indicating reduced market interest.
3. The supply of MATIC on exchanges has stabilized after a decrease through March, potentially signaling a consolidation phase and laying the groundwork for future price movements.