MATIC Price Set To Surge Despite Bearish Netflow! Here’s What To Expect
The post MATIC Price Set To Surge Despite Bearish Netflow! Here’s What To Expect appeared on BitcoinEthereumNews.com. MATIC price is facing a lack of buying confidence as the pre-halving correction strengthens short positions. The current correction in the market has significantly impacted MATIC’s price, resulting in a new low for the year. Nonetheless, as large investors are now accumulating more tokens during this decline, analysts anticipate a surge in the short term. Nevertheless, a key on-chain indicator could pose challenges to the price’s upward momentum. Whales Sense ‘Buy The Dip’ Opportunity Bitcoin’s recent dip to $60K triggered substantial selling pressure across the altcoin market, weighing on MATIC’s price. Nevertheless, amid the market downturn, smart investors see this as an opportunity to accumulate MATIC at discounted rates. Notably, large holders, commonly referred to as whales, have been notably active during this period of market decline. Significantly, there has been a considerable increase in MATIC accumulation by whales, with one notable investor acquiring nearly 2 million tokens. This accumulation trend is further highlighted by a rise in the number of wallets holding significant amounts of the altcoin, ranging from 1,000 to 10 million coins. Moreover, there has been a notable uptick in large transactions exceeding $100,000, signaling a concerted effort by whales to capitalize on the market downturn. According to data from IntoTheBlock, the volume of large transactions surged from a low of $28 million to over $130 million. Notably, this metric surged during MATIC’s decline but later receded following a surge in MATIC’s price, indicating strategic accumulation by whales during price dips. Consequently, analysts expect that MATIC has established strong support levels, and the recent buying activity by whales could potentially send the price to resistance. However, the Netflow metric might defend the sudden surge in MATIC price as it has surged above the positive region, suggesting increasing inflow than outflow. The metric currently stands at 3.5 million…
The post MATIC Price Set To Surge Despite Bearish Netflow! Here’s What To Expect appeared on BitcoinEthereumNews.com.
MATIC price is facing a lack of buying confidence as the pre-halving correction strengthens short positions. The current correction in the market has significantly impacted MATIC’s price, resulting in a new low for the year. Nonetheless, as large investors are now accumulating more tokens during this decline, analysts anticipate a surge in the short term. Nevertheless, a key on-chain indicator could pose challenges to the price’s upward momentum. Whales Sense ‘Buy The Dip’ Opportunity Bitcoin’s recent dip to $60K triggered substantial selling pressure across the altcoin market, weighing on MATIC’s price. Nevertheless, amid the market downturn, smart investors see this as an opportunity to accumulate MATIC at discounted rates. Notably, large holders, commonly referred to as whales, have been notably active during this period of market decline. Significantly, there has been a considerable increase in MATIC accumulation by whales, with one notable investor acquiring nearly 2 million tokens. This accumulation trend is further highlighted by a rise in the number of wallets holding significant amounts of the altcoin, ranging from 1,000 to 10 million coins. Moreover, there has been a notable uptick in large transactions exceeding $100,000, signaling a concerted effort by whales to capitalize on the market downturn. According to data from IntoTheBlock, the volume of large transactions surged from a low of $28 million to over $130 million. Notably, this metric surged during MATIC’s decline but later receded following a surge in MATIC’s price, indicating strategic accumulation by whales during price dips. Consequently, analysts expect that MATIC has established strong support levels, and the recent buying activity by whales could potentially send the price to resistance. However, the Netflow metric might defend the sudden surge in MATIC price as it has surged above the positive region, suggesting increasing inflow than outflow. The metric currently stands at 3.5 million…
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