Polygon (MATIC) Whalers Spurred A Resurgence

Polygon (MATIC)
Yesterday's brief downturn in BTC was seen by investors as an attractive chance to buy altcoins at lower prices, with MATIC being one of them. A swift gathering of buyers at the local low of $0.760 spurred a resurgence in its upward trend.

Currently, the asset is oscillating between a support zone of $0.765-$0.790 and resistance levels ranging from $0.843 to $0.860. There's also an additional marker for buyers at $0.814. Aiming for continued growth and potentially setting new highs is the main focus. In the near term, the $0.905 level might be the next milestone for buyers.

However, a downtrend in BTC's chart could adversely affect altcoin prices. If this happens, MATIC could descend to the support levels at $0.734 and $0.694. It's also important to keep a close eye on Bitcoin's movements, as a more pronounced correction in BTC could make several altcoin support levels obsolete, possibly leading to a more significant drop compared to BTC.