Is Now Polygon's (MATIC) Golden Hour? Unpacking the Accumulation Phase

Polygon (MATIC) price faced a significant decline over the past 48 hours, bringing its two-week-long drawdown to a potential halt.

From here, the likely outcome will be an uptrend, making MATIC a rather profitable addition to portfolios.

Polygon Investors Bullish?

MATIC price under $0.900 is the first such instance since mid-February. The cryptocurrency marked a high of $1.26 in mid-March and since then has been engaged in a decline. This has resulted in the altcoin losing its value to the point where it seems like a rather good option to accumulate.

The Market Value evinces this to the Realized Value (MVRV) ratio as well. The MVRV ratio tracks investor gains/losses. Polygon’s 30-day MVRV, now at -14.75%, indicates losses, possibly prompting accumulation. Historically, MATIC within -5% to -15% MVRV often precedes rallies, terming this area as an opportunity zone.

Given that the price is declining right now, 42% of investors will refrain from selling their holdings at a lower price than Polygon. This will give accumulators an opportunity to witness some upside, consequently pushing Polygon’s price upwards.

MATIC Price Prediction: Recovery Awaits:-

If Polygon investors make their next move bullish instead of bearish, the likely outcome will be a rise in MATIC price. Trading above the $0.88 support level, in confluence with the 100-day EMA, the altcoin will potentially bounce off from here to reclaim the $0.92 resistance.

This price level has been tested as support multiple times in the past and would serve as a boost to the Polygon token to breach the $1.0 price point.

However, if the $0.88 support is lost, the altcoin could slip to $0.81, and falling through this level would invalidate the bullish thesis, leaving MATIC vulnerable to losing $0.80.

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