Summary
TLDR: Polygon (MATIC) price is facing potential correction as investors become bearish, leading to a drop in network growth and whales selling off their holdings. The price is expected to fall by 11.63% and may test support levels. However, there is a possibility of a reversal due to a falling wedge pattern in the chart.
Key Points
1. Polygon (MATIC) price is facing potential correction owing to growing bearishness among investors.
2. This sentiment has intensified to the point where even whales have opted to reduce their holdings and book profits.
3. MATIC price is flashing a bearish signal, and investors react to it rather strongly. This is evident from the substantial drop in network growth. This indicator measures the rate at which new addresses are formed on the network, indicating the overall traction of the project among investors.