MATICSurge

Polygon ($MATIC) has broken the crucial $0.32 support level, confirming a descending triangle breakdown and reinforcing its prolonged bearish trend. This technical shift, observed on March 18, 2025, has drawn significant attention from analysts, as the asset continues to test multi-year lows with minimal buying pressure.

Technical Analysis: Descending Triangle Breakdown

A descending triangle pattern has been forming over the past two weeks, highlighting the asset’s persistent downtrend since reaching its peak. The horizontal support near $0.32 had been tested multiple times before eventually giving way, leading to an accelerated decline.

> "#Polygon $POL makes its move! Breaking out of a descending triangle, targeting $0.040."

The breakdown has intensified bearish sentiment, with price action confirming a loss of ground. While there was a brief recovery attempt, indicated by a wick reaching approximately $0.17, the market remains under strong downward pressure.

Price Action and Key Indicators

MATIC is currently trading at $0.20974, reflecting a sharp decline below the $0.32 level. Key technical indicators support the prevailing bearish momentum:

MACD (Moving Average Convergence Divergence): A deep bearish crossover is evident, with the MACD line at -0.0748 positioned below the signal line at -0.0539. The negative histogram bars further validate the ongoing sell-off.

Directional Movement Index (DMI): The negative directional index remains dominant, indicating that sellers control the market. The ADX (Average Directional Index) stands at 26.9963, reinforcing the strength of the current downtrend.

Market Outlook and Potential Support Levels

Given the continued bearish momentum, MATIC is at risk of further declines. The next major support zone lies between $0.03 and $0.05, with the technical structure suggesting the possibility of a deeper drop.

Market sentiment remains cautious, with trading volume reflecting strong selling activity. Over the past 24 hours, MATIC has declined by 4.37%, while the weekly loss stands at 3.24%. A reversal would require a decisive breakout above the descending trendline, though current indicators do not yet signal a shift in momentum.

As traders monitor these developments, the market remains in a critical phase, with price action continuing to shape future expectations.

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