Price of #Polygon (MATIC) recovering after the 8-month low. Time to invest? In the last 24 hours the entire cryptocurrency market seems to have changed direction, in some cases quite sharply. In the previous phase we witnessed a general decline, during which Polygon recorded a major decline that pushed it down to an 8-month low.

Now, however, it could be the time for a recovery of the entire sector, with several cryptocurrencies having recorded an opposite movement in the last few hours which could be a first step towards a bullish trend.

Among these we find Chainlink (#link ), Uniswap (#UNI ), Near Protocol (#near ) and also Polygon (#MATIC ), which have all recorded an increase of around 5% in the last 24 hours. In the case of Near, the recovery was particularly interesting, having exceeded 7%.

But as regards Polygon (MATIC), we note that the price has been decreasing since the beginning of March, and a real trend reversal has not yet occurred. What we are seeing in these hours, however, could herald the start of an important recovery phase. At the time of writing this post, the price of MATIC stands at around $0.571, therefore still below $0.60, having suffered a significant decline in recent days. Among other things, the token recently hit its 8-month low.

Currently, however, the forecasts are positive, in fact if we consider the price level of $0.53 as the next critical support, given that MATIC is currently trading around $0.57, both a rebound from this support and a continuous recovery could trigger an increase until reaching a consolidation range between $0.75 and $0.64.

The problem is that otherwise, i.e. if MATIC were to break the support, then a bearish scenario would open up which would see the Polygon token fall below the $0.50 price level, heavily compromising the thesis of the imminent rise.$MATIC