The SEC, in its lawsuit report against Coinbase, stated that Polygon (MATIC) is a security, MATIC has reached the bottom price of the last 5 months with this event.
Stating that MATIC is a security in its lawsuit report filed against Coinbase, the SEC played a major role in the decline of MATIC’s price. MATIC, which has reached the lowest level of the last 5 months, is trying to hold on to a very critical support area. The lawsuit against Coinbase and Binance has deeply affected many cryptocurrencies. One of the most depreciated among these cryptocurrencies was MATIC. How is technical analysis progressing for MATIC?
Polygon (MATIC) Hits 5-Month Low
MATIC, which fell to $ 0.75 for the first time since January, created panic in the Polygon ecosystem. The popular coin, which doubled its price in the first quarter of 2023, has been falling for a long time. MATIC, which is currently traded at $ 0.75, may come to lower prices if it cannot hold on to the support zone.
In order for MATIC to recapture an uptrend, the resistance levels that must be overcome are 0.8710 – 0.943 – 1.029 – $1.11 and $1.19, respectively. Breaking these resistances can pave the way for both the Polygon ecosystem and MATIC.
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