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Polygon ($MATIC) Price Breaks Down from Long-Term Structure: What's Next After 50% Drop in 10 Days?

June 20 (Cointime) - Polygon's (MATIC) price has broken down from a long-term ascending parallel channel, indicating the end of the previous upward movement. The weekly time frame technical analysis for MATIC is bearish, with the Relative Strength Index (RSI) below 50 and falling.

However, the short-term daily time frame gives conflicting readings, with the wave count suggesting a five-wave decrease and the RSI showing bullish signs. An increase above the bottom of wave one at $0.94 will indicate a bullish trend, while a drop towards $0.30 and a new yearly low is the most likely future price outlook.

Polygon Polygon $0.47
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