Polygon in downward spiral: Can MATIC still save itself?

MATIC is at 0.53 euros and remains in a downtrend. Other altcoins have already recovered, but MATIC does not seem to be finding its way up.

After an extended period of stabilization and selling below 0.60 euros, MATIC has lost further ground. The current low is at 0.43 euros, the lowest point since June 2022. It is wise to look at the daily chart if you want to re-enter for a MATIC investment. MATIC should enter the 0.50 to 0.47 euro zone for positive signals. There is still a lot of resistance above this area. Currently, there seems to be little interest from buyers.

Little movement and volume in the indicators

Trading volume remains low. The greatest buying interest was in March, but since then there has been little movement and volume in the market except for a few days. The MACD (Moving Average Convergence/Divergence) is fairly stable and has been in positive territory for several days, but is still in negative territory. Momentum is already waning, so a negative crossing of the signal line is expected. The RSI (Relative Strength Index) is neutral at 50 points, indicating little interest in buying or selling MATIC.

For traders, it is important to keep a close eye on the 0.47 level while waiting for a possible trend reversal. However, this could take days or weeks.