IS Now Polygon’s (MATIC) Golden Hour? Unpacking the Accumulation Phase

Polygon (MATIC) price has experienced a significant decline recently, but it seems to be entering a potential accumulation phase. This could present a golden hour for investors looking to add MATIC to their portfolios. The current price of MATIC below $0.900 is the first time it has reached this level since mid-February. With the altcoin losing value and its 30-day MVRV ratio at -14.75%, which often precedes rallies, this could be an opportunity for accumulation. Moreover, the low possibility of selling MATIC among investors, as indicated by the historical break-even metric, suggests that only 42% of investors are in profit, reducing the incentive for them to sell at this price. If investors take a bullish stance, MATIC could experience a recovery and potentially test the $0.92 resistance level, which has previously served as strong support. However, if the support at $0.88 is lost, MATIC could decline further to $0.81 and potentially even lower to $0.80.