Polygon Whales Make Big Moves as MATIC Continues to Decline

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The majority of investor expectations have been dashed in the wake of Polygon Labs’ announcement of personnel reductions. The panic that is currently present in the global cryptocurrency market as the value of the majority of currencies falls further exacerbates this. The whales appear to be on the verge of buying this week, although the price of MATIC is still falling.

This comes as no surprise because whales are known for consistently identifying buy and sell opportunities at a premium and a discount, respectively. After the market declined over the preceding few days, the whales made their move. The whales recently sent $15 million to Binance in anticipation of the market’s impending drop.

Key Polygon Levels To Watch – March 7

MATICUSD appears to have reached a new low as momentum decreased drastically at the discount. The current trading range of the market lies between the 1.5680 and the 0.9160 price levels.According to the Stochastic indicator, MATIC is already oversold, and a surge to the upside is looming. Moreover, the market’s overall trend is bullish, and the price is likely to resume its upward trend after the sell-side liquidity grab.

Polygon Key Levels

Resistance Levels: $2.9200, $2.1000, $1.5680
Support Levels: $1.3040, $0.7500, $0.5200

Total Market Capitalization: $1.02T
Polygon Market Capitalization: $10.07B
Polygon Volume: $0.34B
Market Rank: #8

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