Polygon (MATIC) Faces Tough Short-term Outlook Amid Regulatory Concerns

The short-term expectations for Polygon (MATIC) continue to look brutal as concerns about being classified as a security by the U.S. Securities and Exchange Commission (SEC) impact its price chart. Any potential reversal opportunity for MATIC could be hindered as Bitcoin (BTC) fails to make significant gains even after reclaiming the $26,000 price level. Polygon (MATIC) Price The drop of MATIC to $0.5274 in July 2022 signified the lowest point for the altcoin for the year. Sellers capitalized on the persistent bearish pressure since mid-April and uncertainty surrounding MATIC, leading to significant losses. Despite a rise from $0.5274 to $0.6500 between June 10 and June 13, selling pressure obstructed a sustained rally. The RSI remained below the neutral 50, and the OBV decreased by 96 million in the last two days. Both indicators highlighted the significant bearish trend in the market. Trading at $0.5988, a retest of the $0.5274 support […] The post Polygon (MATIC) Faces Tough Short-term Outlook Amid Regulatory Concerns appeared first on COINTURK NEWS.