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Current Market Observation of Four Altcoins

Polygon (MATIC) Shows Downward Trend

Polygon (MATIC) is currently trading in the range of $0.67 to $0.73. The recent market correction is obvious, with a weekly decline of 6.04% and a monthly decline of 4.11%. Technically, the coin is facing pressure from the resistance level of $0.78, while $0.64 is considered a key support level. With the RSI indicator at 42.15 and the MACD showing a bearish trend, market participants may foresee that MATIC may continue its downward trend in the short term. Its price has fallen by 14.63% in the past six months.

Cosmos (ATOM) Seeks a Breakout

The current price of Cosmos (ATOM) is hovering between $8.01 and $8.74. The main resistance levels facing the token are located at $9.19 and $9.92, while the support levels are located at $7.73 and $6.99. Currently, the 10-day and 100-day simple moving averages are almost overlapping, at $8.34 and $8.35, respectively. In terms of technical indicators, the RSI is 42.89 and the stochastic indicator is at 21.87, both showing insufficient momentum. The MACD value is slightly negative at -0.01. ATOM has recently fallen 4.10% in a week, 4.34% in a month, and 14.66% in six months, and the market trend is biased towards a correction.

Chainlink (LINK) The trend is unclear after the correction

The current price of Chainlink (LINK) fluctuates between $16.96 and $19.28. Although the price has fallen by 6.46% in the past week, the increase in one month has reached 22.49%, showing strong short-term resilience.

In the long term, the price change of LINK in six months is 14.95%. Currently, $15.76 is seen as support, while $20.42 is a potential resistance. In terms of technical indicators, the RSI value is 39.21, the stochastic index is 37.79, and the MACD value is -0.11. At the same time, the price of LINK is below the 100-day moving average of $18.14, which may provide a certain stability area for the market.

Stellar (XLM) is close to support level

Stellar (XLM) is currently trading between $0.10 and $0.11. In the past week, the price of XLM has fallen by 6.63%, a month has fallen by 6.98%, and in the past six months, its decline has reached 17.50%. Technical indicators show that the market is in a correction phase, with an RSI value of 37.74 and a stochastic index of 9.96. If the support level of $0.10 can hold, the market may be able to further test $0.The resistance level is $11.

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