MATIC, the native token of the Polygon network, is trading below all major moving averages with its relative strength index at 38, a reading that typically points to further downside. Technical models now assign a 65% probability that the token will test the $0.31 support level by June, a threshold tied to the lower Bollinger Band.
What the Charts Are Saying
The RSI of 38 places MATIC in oversold territory, but the trend remains bearish. The token has slipped beneath its 50-day, 100-day, and 200-day moving averages — a configuration traders call a “death cross” when the shorter averages cross below the longer ones. That setup often precedes extended slides.
The Key $0.31 Level
According to the technical analysis, the $0.31 mark is not arbitrary — it corresponds to the Bollinger Band support, a volatility-based indicator. The band is expected to be reached within 30 days. A drop to that price would represent a roughly 15% decline from current levels, based on recent trading around $0.36.
What’s Driving the Sell-Off
No single catalyst has been cited, but the broader crypto market has faced pressure from regulatory uncertainty and profit-taking after a rally earlier this year. MATIC’s own network activity has not provided a counterweight; daily transaction counts and active addresses have been flat or declining in recent weeks, according to on-chain data.
Traders are now watching the $0.31 level closely. If it breaks, the next major support is unclear. If it holds, MATIC could attempt a bounce. For now, the momentum is firmly to the downside.
