Polygon (MATIC) Back Below $1, Just a Healthy Correction?
Polygon’s MATIC is back below the $1 price level.
The asset appears to be retesting a multi-month range.
MATIC’s recent price drop follows a market-wide correction.
After a whirlwind run in recent weeks primarily led by excitement around inflows to spot Bitcoin ETFs and, most recently, the Ethereum Dencun upgrade, Polygon’s native token MATIC, like the rest of the crypto market, appears to be slowing its roll.
After running to yearly highs at $1.29 moments after the Dencun upgrade, the price of MATIC has tanked sharply and is trading below the $1 price point for the first time in two weeks.
Could this be the beginning of a prolonged downturn, or is it just a healthy correction