Polygon ($MATIC) Near Critical Support at $0.35 Amid Bearish Signals

My analysis indicates that Polygon ($MATIC) is currently testing a crucial support level at $0.35, which could be a pivotal point for the cryptocurrency's short-term trend. The RSI at 38 suggests that MATIC is approaching oversold conditions, yet the presence of a bearish MACD points to ongoing downward momentum. These technical signals together imply potential for further downside movement if the support at $0.35 does not hold.

It's essential to monitor whether MATIC can sustain this support level, as breaking below it might trigger additional selling pressure and accelerate its decline. Traders should be cautious and consider the risk of a continued bearish trend while keeping an eye on volume and other technical indicators for confirmation.

Given the current technical landscape, investors might want to adopt a conservative stance, possibly waiting for a clear reversal signal or a bounce from this support before considering new entries. Conversely, if MATIC breaks below this critical support, it could signal a significant downturn, prompting short-term traders to look for potential shorting opportunities or to exit their positions to mitigate losses.