Despite the Association of Polygon with CV Labs, MATIC Crashes by 2%

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Azeez Mustapha

Updated: 25 November 2022

In spite of Polygon (MATIC) announcing a strategic alliance with CV Labs, MATIC has done poorly. The collaboration is expected to increase Polygon’s market penetration and contribute to an inclusive and robust digital future for Africa.

Presently, the overall crypto market is underperforming as well. About $780 billion is the current total market cap for cryptocurrencies, which crashed 2% today. This has taken its toll on Polygon, causing it to crash by 2%.

Key Polygon Levels To Watch – November 23

Price had an upward rally during September to $1.3000. The price has been declining since the rally and continues to do so.

Despite Polygon's association with CV Labs, MATIC crashed by 2%

Current market sentiment is bearish in price action. A break of structure (BOS) has occurred in the market. This has formed a confluence, with the price now resting below the Moving Average period of 20.

The Relative Strength Index shows the price reaching the oversold region. We are expected to see a pullback to the order block below $0.9700 before the price continues to crash.

MATIC key levels

Resistance Levels – $0.9700, $1.1500
Support Levels – $0.7600, $0.6900

Total Market Capitalization: $8.42B
DOGE Market Capitalization: $7.36B
DOGE Volume: $0.72B
Market Rank: 10

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