MATIC in the midst of storms
Recently, the journey of MATIC seems to be shrouded in dark clouds, and the mood of token holders is as gloomy as the weather. Since the beginning of April, MATIC has embarked on a downward path, and the glaring $0.91 support level on the daily chart has been ruthlessly trampled underfoot. What's worse, as of now, the price of MATIC has slipped below the annual low of 2023, $0.492, a figure that makes people sigh.
The battle between bulls and bears is like a summer afternoon thunderstorm, which comes violently and goes away quickly, but fails to bring a bit of coolness. On August 5, MATIC almost touched the annual low of $0.316 in 2022. Although it did not break through in the end, it only barely stood firm at $0.334.
Network vitality, where are you?
The stagnation on the MDIA network is like a silent protest, telling us: more vitality is needed here! The number of newly created addresses, which once remained stable at 600, seemed a bit overwhelmed in August, as if even new friends were hesitant to join this adventure.
However, the good news is that although the number of active addresses is slightly lower than in the second half of July, it has rebounded slightly in the past week. Is this perhaps the calm before the storm, or is there really a glimmer of light ahead?
The battle between selling and holding on
Speaking of selling, MATIC has moved a lot in the past month. About $660,000 of MATIC has left the exchange, behind which are the frustrations and choices of countless holders. In comparison, MATIC's market value ($4.16 billion) and 24-hour trading volume ($130 million) seem a bit pale.
Why is it so difficult for MATIC bulls to start a recovery? The answer may be hidden in those days of continuous decline. Since March, the downward trend has been like a marathon with no end, leaving holders in a quagmire of losses. Every small rebound has become a brief opportunity for them to escape from the sea of suffering. Every fluctuation on the OBV (power tide indicator) is like a helpless sigh in the hearts of token holders.
Is the light of hope just ahead?
Although the situation is grim, there is still hope. The decline in the circulation index and the increase in the circulation velocity seem to tell us that there are still fluctuations and speculative transactions in the market. In the past 10 days, the change in the indicator trend shows that holders may be less eager to sell.
Is this a sign of confidence? Perhaps. While other signals remain bearish, the upward trend in average years of USD investment is like a small light, illuminating the way for long-term holders. The decline may mean that the liquidity of the token is increasing, which is a precursor to price recovery.
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