Why Polygon (MATIC) Price Might Dip 10% by the End of March

Why Polygon (MATIC) Price Might Dip 10% by the End of March

Polygon (MATIC) price could see a 10% decline by month's end, driven by falling daily active addresses, over half of holders in loss, and a bearish death cross in EMA lines. These indicators suggest a sustained downward trend, urging caution among investors.

Polygon Active Addresses Are Declining

• The number of MATIC Daily Active Addresses has seen a notable uptick in recent times, exhibiting a robust growth pattern.
• This uptrend shows a growing interest and engagement within the MATIC network.
• Given the recent downturn in the Daily Active Addresses' seven-day Moving Average, there's an inference that MATIC price might be gearing up for a potential correction phase shortly.

Holders Face Losses: On-Chain Metrics Signal Bearish Trend

• The current situation, with 51% of MATIC addresses being at a loss while only 44% are in profit, tends towards a bearish sentiment.
• The psychological impact on investor sentiment, with a majority facing losses, could foster a bearish outlook, as the concern over further declines overshadows optimism for recovery.

If the downtrend persists, MATIC's price could drop until the next support zone at $0.90, an almost 10% price drop.