Polygon (MATIC) price may have trouble deciding its next direction as the market and investors are sending mixed signals. The chances of Polygon (MATIC) rallying and falling are generally equal, but there is a reason why the token may still lean toward the former. Meanwhile, Bitbot, the new Telegram trading bot is gaining more success and passed $2.9 million in its 1st round presale.
Are investors losing faith in Polygon?
The MATIC price has been moving in a range over the past few days because the Bitcoin halving failed to give the market a clear direction. Polygon holders are also undecided: active investors are showing sentiment ranging from bullish to neutral, while potential investors are bearish. This is evidenced by the Mean Coin Age and Network Growth indicators.
The on-chain metric Mean coin age measures the level of trading sentiment among long-term investors by calculating the average number of days that circulating coins spent at current addresses. The growth of this indicator suggests that investors prefer to hold the asset. This pattern is considered bullish during uptrends because it suggests investors are less willing to sell their holdings, pushing prices higher.
Meanwhile, the network growth indicator (Network Growth) estimates the rate of new addresses appearing in the network. This allows you to determine whether the project is losing or gaining momentum in the market. At the time of writing, this figure is at a 12-month low, indicating a lack of new investors.
Polygon (MATIC) Forecast
Polygon failed to break through the resistance at $0.76 and is currently trading around $0.70. This barrier has been in place for more than a week, and the same can be said about the support at $0.64. Over the past couple of days, the price has tested it twice, strengthening and consolidating the range.
Thus, the altcoin may continue its sideways movement between $0.76 and $0.61. However, there is potential for any of these boundaries to be breached.
The Ichimoku Cloud is giving bullish signals. This is a technical analysis tool that provides insight into support, resistance and price momentum. On the other hand, If MATIC breaks the $0.76 resistance level, the price could test $0.81. In this case, the neutral-bearish scenario will be invalidated, opening the door for a recovery of the native Polygon token.
Bitbot and The Telegram bot ecosystem
The Telegram bot realm is flourishing with established players like PAAL AI and Banana Gun at the forefront, this emerging sector now exceeds a valuation of $1.2 billion. These Telegram trading bot tokens have transformed the crypto trading landscape for enthusiasts, amassing a user base of over 1.4 million and a combined trading volume surpassing $19 billion – all within a year.
While a vibrant ecosystem ripe with potential, it remains surprisingly underserved, underscoring the significant opportunities awaiting Bitbot’s debut.
Bitbot, the world’s premier non-custodial Telegram trading bot, is an innovative AI-driven Telegram trading bot ensuring users retain full asset control until trades finalize, removing the necessity for a third party to safeguard funds. This approach markedly enhances security and trust, addressing critical concerns within the Telegram trading bot arena. By presenting a non-custodial solution, Bitbot aims to attract a new cohort of privacy and security-conscious investors, thereby expanding the market and potentially capturing market share from Bitbot’s competitors – a win-win for BITBOT token holders.
Bitbot Presale Crossed $2.9 Million
In the bustling Telegram trading bot landscape, Bitbot isn’t shying away for dominance but reshaping the industry itself. It’s achieving this in several notable ways. Mainly, Bitbot’s commitment to safety sets a new benchmark in the market. Its non-custodial technology, integration of anti-MEV bot measures, and robust mechanisms to prevent rug pulls directly counter the vulnerabilities affecting competitors like Banana Gun and Unibot. These platforms faced significant setbacks – Banana Gun due to a contract bug causing a near-total value collapse, Unibot grappling with over $500k in hacked funds last year, and another trading bot, Solareum, being hacked for +$500k just this month.
Meanwhile, Bitbot’s economic incentives, including a revenue-sharing program where coin holders receive 50% of all trading fees and a referral scheme offering a lifetime 15% share of transaction fees, alongside its enhanced security features, solidify its potential for exponential growth. These incentives are likely to foster a strong community and support a robust BITBOT coin price. With Bitbot’s presale now in stage 11, tokens are swiftly moving off the digital shelves. Discover why investors are flocking to participate in this promising presale opportunity before it closes.
