On March 18, 2025, Polygon (MATIC) faced a significant technical shift with a breakdown from a descending triangle pattern. This event drew attention from analysts and added a new dimension to the ongoing discussion about the asset's trend.
Technical Chart Analysis
The chart shows a distinct descending triangle forming over a two-week period. A long-term downtrend has been evident since the asset's peak. The horizontal support level near $0.32 was tested multiple times before the breakdown. Visual data confirms the price action losing ground after failing to hold support.
Price Action and Indicators
The asset's price has fallen below the $0.32 level, sitting at approximately $0.20974 at the time of writing. The MACD shows a deep bearish crossover, with the MACD line at -0.0748 below the signal line at -0.0539. The negative histogram bars further reinforce the downward trend. The Directional Movement Index indicates that sellers remain in control of the market.
Market Trend and Future Levels
Price trends suggest further losses may occur. The next major support likely lies between $0.03 and $0.05. Trading volumes remain high, indicating market reaction to the breakdown. A strong breakout above the descending trendline is needed for a reversal.
Polygon (MATIC) continues to move downward, as highlighted by the technical analysis and indicators. Analysts are closely monitoring for further declines and identifying potential support levels.
