Large-scale MATIC transfers are on the rise as major investors move significant amounts of the token from major exchanges to unknown wallets. Whale Alert reported several substantial transactions, signaling potential market shifts.
Whale Transfers and Their Impact
Binance witnessed two major transfers of 200 million MATIC each, totaling roughly $154.3 million, to an undisclosed wallet. OKEx also saw a notable movement of 30 million MATIC, valued at $11.45 million, to an unknown wallet. Further transfers from Binance and OKEx, involving 200 million and 30.065 million MATIC respectively, demonstrate continued whale trading.
MATIC Technical Analysis
MATIC’s current price is $0.3785, reflecting a 1.04% drop. The current support level is $0.378, and a breach below this point could push the price towards $0.375. The Relative Strength Index (RSI) is nearing oversold territory, suggesting a potential buying opportunity for traders.
Conclusion
The activity of major investors on the MATIC market suggests possible shifts in the token's price dynamics. Monitoring these trends could be beneficial for traders and investors evaluating MATIC's prospects.
The activity of major investors on the MATIC market suggests possible shifts in the token's price dynamics. Monitoring these trends could be beneficial for traders and investors evaluating MATIC's prospects.
Comments