Summary
TLDR: Polygon (MATIC) is experiencing a quick recovery supported by investors, with optimism for reclaiming lost profits. Active addresses show minimal selling, and traders in the Futures market are making bullish bets. MATIC’s price is currently just above crucial support at $0.72, which, if maintained, could lead to a rise to $0.81. However, if support is lost, the price could drop to $0.65 or lower.
Key Points
1. Polygon (MATIC) is observing a quick recovery supported by its investors, with the potential to reclaim lost profits from the early April correction.
2. Investors in the Polygon network are optimistic about the recovery, with minimal selling activity in recent days. HODLing sentiment is dominant, with only 6% of active addresses in profit opting to sell.
3. Traders in the Futures market are making bullish bets against MATIC prices, exhibiting optimism and confidence. The funding rate, which has been negative, is gradually becoming positive, indicating potential growth for the altcoin.