Polygon (MATIC) is one of the few altcoins that is recovering amid strong investor support. Discover Mallconomy cutting-edge features, from AI-powered sales assistants to gamified browsing rewards, revolutionizing the metaverse shopping and investment experience.
Polygon Investors are Bullish
MATIC price is rising on the daily chart, with Polygon investors believing there is potential for this recovery . This is indicated by minimal online sales volumes over the past few days.
If we distribute active addresses by profitability, we can note that only 6% of investors are in profit . The largest category are addresses at the break-even point, which choose the “hodl” strategy and are in no hurry to sell in anticipation of a further rise in prices.
This behavior of investors supports the process of price recovery. Further support for the recovery is provided by traders in the futures market. They make bullish bets on MATIC prices, thus demonstrating optimism and confidence. This is evidenced by the funding rate, which has been negative over the past few days.
The funding rate is a commission that is paid between holders of long and short futures contracts and helps maintain price equilibrium. Typically, a negative rate indicates a predominance of short contracts, while a positive rate indicates a predominance of long contracts. The funding rate goes from negative to positive. This is considered a bullish signal and indicates that the value of the token may rise in the near future.
Polygon (MATIC) Price Forecast
The MATIC price rebounded from the support level of $0.65 and at the time of publication is slightly above the important support of $0.72, which has already been tested for strength several times: each time prices bounced from it and rushed up.
Thus, once this level confirms its support status, the MATIC price may recover to $0.81. A breakout of this level will help the token win back almost half of the losses incurred earlier this month.
However, if the support at $0.72 is broken, the price could fall to $0.65, which would invalidate the bullish scenario and lead to a potential drawdown to $0.60 or lower.
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Mallconomy NextGen LaunchPad & Community Engagement
In addition to its innovative shopping features, Mallconomy offers a NextGen LaunchPad experience that revolutionizes investment opportunities in the metaverse. This LaunchPad operates like a Tinder-like platform for investing, allowing users to support their favorite brands’ metaverse stores, participate in group land purchases, and invest time or money while owning a valuable MallCard NFT. This unique investment model adds excitement and engagement to the metaverse investment landscape, creating a vibrant and captivating experience for investors.
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