Summary
TLDR: MATIC price fell by 31% during recent market correction, but investors are seeking to buy over selling, leading to potential accumulation opportunities. MVRV ratio suggests MATIC is in an opportunity zone for recovery. Close to 1 billion MATIC is on the verge of losing profits, which could result in a rally if price increases. To rally, MATIC needs to breach $0.70 and $0.74 resistance levels, otherwise, price could fall towards $0.60.
Key Points
1. Polygon (MATIC) price fell by 31% during the recent crypto market correction.
2. MATIC holders are likely to see an upward trend from this point on, with opportunities for accumulation.
3. Investors are seeking to buy over selling, as indicated by the Market Value to Realized Value (MVRV) ratio, and are looking for MATIC to breach and flip $0.70 and $0.74 resistance levels into support for a potential rally towards $0.80 and beyond.