The price of Polygon’s MATIC token saw a brief pullback over the weekend, dipping below $0.80 after rising to new multi-month highs last week. However, MATIC remains firmly bullish, quickly bouncing back above the $0.85 support level.
Keypoints
- MATIC price saw a dip over the weekend but remains in an uptrend above key support levels
- On-chain data shows whales are still accumulating MATIC, indicating strength in the uptrend
- Next resistance levels for MATIC are at $0.97 and $1.19
- Polygon ID Release 5 launched, enhancing credential issuance and expanding the identity ecosystem
- MATIC price outperformed the broader market following the Polygon ID release, rising over 8%
On-chain data reveals that whale wallets holding between 1 million and 100 million MATIC increased their holdings since October 19th. This suggests that larger players remain confident in MATIC’s continued upside potential despite the weekend…
