 faces strong bearish momentum, with analysts predicting a drop to $0.041 as the token breaks a multi-year downtrend. Investors brace for further losses.){kind=link}
Polygon (POL), formerly known as MATIC, is facing strong bearish pressure, with crypto analyst Ali Martinez predicting a potential drop to $0.041.
Martinez, a well-known technical and on-chain analyst, highlighted that Polygon is breaking out of a multi-year descending triangle pattern, a formation often signaling further downward momentum.
If this bearish breakout is confirmed, the token could see a substantial decline, potentially losing a significant portion of its value.
The prediction has sparked concern among investors, as the asset continues its downward trajectory in an already fragile market environment.
Polygon (MATIC) Sees 15.43% Drop in 24 Hours, Market Cap Falls Below $450 Million
The bearish sentiment around Polygon is reflected in its recent price action. As of today, the price of Polygon (MATIC) has fallen to $0.2468, representing a steep 15.43% decline in the last 24 hours.
Over the past week, the token has also dropped by 6.94%, further cementing concerns over its weakening momentum.
With a circulating supply of 1.8 billion MATIC, the token’s market capitalization has slipped to $441.2 million, signaling a loss of investor confidence.
The increased selling pressure and declining trading volume suggest that bearish forces are dominating the market, making a recovery unlikely in the short term.
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Technical Breakdown Suggests Polygon Could Face Deeper Declines
Martinez’s analysis indicates that Polygon’s long-term price pattern aligns with a descending triangle, a technical formation known for signaling prolonged bearish trends.
The token has been struggling to break out of this structure for years, and if it confirms a decisive breakdown, the predicted price target of $0.041 could become a reality.
Such a drop would represent an over 80% decline from its current value, which could be devastating for investors still holding the asset.
Analysts point out that key support levels have already been tested and broken, adding weight to the bearish outlook. Unless a strong catalyst emerges to reverse sentiment, Polygon could face further declines.
Investor Sentiment Wavers Amid Growing Market Uncertainty
With Polygon’s price on a downward spiral, investor sentiment has taken a hit. Many traders and long-term holders are closely monitoring key technical levels to assess whether a reversal is possible.
Polygon has earlier faced heavy criticism over an AI-Generated Trump Video, many tagged it as a marketing mishap.Â
However, the broader crypto market has been struggling with declining liquidity and regulatory concerns, adding to the uncertainty.
If Polygon fails to hold above its current support levels, panic selling could accelerate its decline.
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