Polygon (MATIC) Investors Prepare to Offload 90 Million Tokens: Price Impact

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Title

• – title start — Polygon （MATIC） Investors Prepare to Offload 90 Million Tokens: Price Impact — title end —

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Polygon （MATIC） is facing significant selling pressure as investors prepare to offload 90 million tokens. This potential sell-off, coupled with underwhelming performance, could lead to further price declines unless key support levels hold.

Points

• MATIC is under significant selling pressure with 90 million tokens ready to be offloaded.
• The token has decreased by 11.61% over the last 30 days.
• Exchange On-Chain Market Depth shows more sell orders than buy orders.
• Large holders’ netflow has decreased by 220% in the last week.
• Technical indicators suggest bearish momentum.

Polygon （MATIC） is facing significant selling pressure as investors prepare to offload 90 million tokens. At press time, MATIC is trading at $0.49, representing an 11.61% decrease over the last 30 days. This sell-off could lead to further declines if key support levels are not maintained.

Polygon Institutional Favorite Status Fades

Recent data from blockchain analytics platforms indicates a challenging environment for MATIC to bounce back. The Exchange On-Chain Market Depth, an indicator tracking order books of the top 20 exchanges, shows that traders are prepared to sell 90.32 million tokens once MATIC hits $0.50. Conversely, buy orders set at $0.49 total just over 55 million tokens, revealing a significant gap between sell and buy orders.

Beincrypto

This discrepancy suggests that more traders are inclined to remove Polygon from their portfolios, putting downward pressure on the price. Additionally, the large holders’ netflow has decreased by 220% in the last seven days. This metric measures the interest of whales and institutional investors in a cryptocurrency. A decrease in netflow indicates reduced accumulation and increased distribution.

Beincrypto

MATIC Price Prediction: More Losses on the Radar

According to the daily chart, MATIC has yet to break above the descending trendline since June 6. This inability to surpass the trendline suggests that the token remains in bearish territory. If MATIC fails to rise above this trendline, the price may continue to struggle to recover.

The Moving Average Convergence Divergence （MACD） indicator, which measures momentum, is currently negative. A negative MACD reading indicates bearish momentum, suggesting that the price may continue to fall. The On Balance Volume （OBV）, which measures buying and selling pressure, also trends downward, indicating that sellers are liquidating MATIC in large numbers.

Beincrypto

If this selling pressure persists, MATIC’s price could head towards $0.42. However, a resurgence in buying volume could halt the downtrend and potentially lead to the price reaching $0.54.

解説

• The significant selling pressure on Polygon （MATIC） reflects broader market challenges and investor sentiment.
• The gap between sell and buy orders indicates potential price declines unless buying interest increases.
• The decrease in large holders’ netflow highlights the reduced interest from whales and institutional investors, impacting market confidence.
• Technical indicators like the MACD and OBV provide insights into the bearish momentum and potential future price movements.
• Understanding market depth and investor behavior is crucial for anticipating price trends and making informed trading decisions.