Polygons (MATIC) show signs of complex patterns. This is emphasized by the increase in the whale’s activity, accompanied by a decrease in his daily active address.

This confluence of on-chain indicators points to mixed sentiment within the market.

polygon mix signal

Initially, the number of addresses holding large amounts of MATIC decreased, from 273 to 252 by March 30th. However, this trend reversed within days, and by April 3, the number had increased to 266.

This action indicates that the whales are potentially “buying on the edge,” a strategy that suggests optimism for MATIC’s price growth.

In contrast, daily active addresses are consistently decreasing. These increased from 2,959 to 31 March to 2,216 by 3 April, traditionally suggesting a decline in market interest.

At the same time, the supply of MATIC on exchanges has shown some stability after declining through March.

This equilibrium suggests that selling pressure is easing and a consolidation phase may be beginning, potentially laying the foundation for future price movements.

MATIC price prediction

In/Out of the Money Around Price (IOMAP) analysis shows significant resistance ahead for MATIC, with a maximum of $0.99 and notable levels between $0.80 and $0.88.

These insights, along with the observed market dynamics, paint a picture of a possible consolidation where prices could stabilize before making a decisive move.

Read more: Polygon (MATIC) Price Prediction 2024/2025/2030

Considering these factors, MATIC’s future price direction will depend on market sentiment and its ability to overcome resistance levels.

In case of a bearish trend, MATIC could retreat to lower support levels, perhaps around $0.68. Conversely, if resistance can be overcome, MATIC could be pushed towards $1.30, a level not reached since April 2022.