The Most Recent Active Address Count from Polygon Can Provide Short-Term Traders with Clarity

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Last month, there were 15 million active addresses in Polygon. The MVRV ratio reading suggested that the bottom might be close. Recently, Polygon [MATIC] founder Sandeep Nailwal tweeted a significant update for the ecosystem.

The number of active addresses on Polygon reached 15 million in the previous 30 days, Sandeep Nailwal revealed. Since it showed how well-liked the network was, the update appeared to be quite favourable for the blockchain.

Key MATIC Coin Levels to Watch – November 28

The market sentiment for MATIC seems bullish due to more active wallets in the last 30 days. We are to see bullishness in Polygon, either in the form of a pullback or a reversal.

Last month, there were 15 million active addresses in Polygon. The MVRV ratio reading suggested that the bottom might be close.
Following the November 9th price drop, the price has struggled to make a clear break of structure downwards. There is resistance at the $0.770 holding price, preventing a downward break in the structure.

The resistance at $0.770 has been touched twice without a BOS (break of structure). This shows a weakness in the bearish stance. Currently, the Relative Strength Index indicates the price is close to the oversold region; this shows a bullish tendency.

Polygon Key Levels

Resistance level – $0.920 $1.000 $1.150
Support level – $0.770 $0.680 $0.600

Total Market Capitalization: $8.24B
Polygon Market Capitalization: $7.20B
Polygon Volume: $0.30B
Market Rank: 10

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.