Summary
TLDR: The growth of active addresses using MATIC has stagnated, with whales reducing their holdings, potentially leading to market volatility and downward pressure on price. The number of whales holding MATIC has decreased, suggesting they may be moving their money to other coins. MATIC’s price prediction shows support at $1.15, but risks a decline to $1.12 or even $1.08. If it overcomes resistance levels at $1.19 and $1.23, it could see an upward trajectory towards $1.34. This analysis provides insights into potential short-term market movements for MATIC.
Key Points
1. The growth of active addresses using MATIC has stagnated recently, with whales reducing their holdings, potentially leading to market volatility.
2. Daily Active Addresses engaging with MATIC saw a significant jump from February 13 to March 7, but the growth rate began to wane after March 7, indicating a potential stabilization in MATIC’s price.
3. Whales have been offloading their holdings of MATIC, with the number of addresses holding at least 1,000,000 MATIC decreasing, suggesting a shift in focus to other coins for potentially better performance.