MATIC - Polygon cryptocurrency
The project is on the market - since the end of April 2019. All this time it was traded on a daily basis (the maximum - an impressive $3.87 billion). Which generally indicates the interest of users and the market in the asset.
Since February of the current year the coin grew in value up to $0.11 and since then it hasn't fallen to such values. The highest price of MATIC coin for all time was reached in May of this year - $2.68. At this stage it "lost its weight" 53%. But since July it started a new ascent: from $0.69 to $1.31 today.
When can the market sell and buy?
Support and resistance levels can form in price zones where there have been large purchases. It seems logical that those traders who bought Polygon MATIC, say, at $2.50, at $1.31 will not sell their coins. On the other hand, those who bought below $1.31 may seek to sell. In other words, holders are always striving to break-even on their positions.
According to IntoTheBlock's stat portal, the addresses that bought at $1.05 to $1.43 are mostly at a loss today - that's 53.94%.