🚀 Polygon beats $ETH in key area – What it means for $MATIC - AMBCrypto Analytics

Even though the price of MATIC moved sideways for the most part, there was a steep decline observed when the price hit the $0.7413 level on the 6th of June.

The OBV (On Balance Volume) for MATIC declined materially during this period. A declining OBV during this period suggested that selling pressure outweighed buying pressure for MATIC.

A positive CMF, even at a low value like 0.03, indicates that there might still be some money flowing into MATIC despite the OBV decline.

A positive CMF with a lower trading volume could suggest larger investors or whales accumulating MATIC despite the short-term price dip.

Apart from whale interest, there was retail interest in MATIC observed as well.

AMBCrypto’s analysis of Santiment’s data indicated that the addresses holding anywhere between 0 and 100 coins had increased their rate of accumulation.

The rise in the accumulation of MATIC suggests that many traders are looking at the recent price dip of MATIC as an opportunity to buy the token at a discount.