Summary
TLDR: Polygon (MATIC) price is on the rise after a bearish month, needing to cross resistances to reclaim $1. Investors turning bullish as active deposits decline, indicating a possible price reversal. MVRV ratio suggests potential accumulation and a price recovery. If MATIC breaches $0.97 resistance, it could reach $1.02, but failure could push price down to $0.88. Always conduct your own research before making financial decisions.
Key Points
1. Polygon (MATIC) price is moving up on the charts after witnessing a bearish month, bringing the altcoin below $1.
2. MATIC price has historically exhibited a shift in tone following investors’ behavior, with the possibility of price reversal increasing as active deposits decline.
3. MATIC price could potentially breach the $0.97 resistance and reclaim $1.00, leading to a breakout from the downtrend if successful.