@clam7
Polygon [MATIC] experienced a significant downtrend in June. The price fell below a 2-month range on June 11, consolidating bearish control. Resistance at $0.621 turned into $0.59, with $0.5 being the next crucial support. This level was significant in past price movements, leading to a rally to $1.29. The market structure appeared severely bearish based on indicators like CMF (-0.03) and RSI (33). A drop below -0.05 in CMF might suggest more capital outflow. A spike in circulation on June 24 hinted at buyer capitulation, potentially leading to further price declines. The MVRV ratio indicated short-term buyers were at a loss, possibly hindering recovery efforts.
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