Why are Polygon (MATIC) investors worried? Which Altcoin are they moving to? Experts answer
In a recent twist of events, investors in Polygon (MATIC) find themselves contending with apprehensions amidst the altcoin encountering formidable resistance levels. As experts analyse the unfolding situation, a noticeable trend emerges— a considerable number of these investors are redirecting their attention towards an alternative token, Retik Finance. This shift is attributed to Retik Finance’s perceived potential for robust growth, a factor that is capturing the interest of a substantial portion of the investor community.
Polygon, a layer-2 scaling solution for Ethereum, has been a favourite among investors for its commitment to enhancing scalability and reducing transaction fees on the Ethereum network. However, even the most promising projects can face hurdles, and Polygon is no exception. The current cause for concern among MATIC investors revolves around the altcoin’s struggle with strong resistance levels.Technical analysis by experts, including notable figures like Ali Martinez, has highlighted the hurdles that Polygon is currently facing. Martinez points out that Polygon’s growth is hindered by formidable resistance zones, specifically at $0.98 and $1.0. Whenever MATIC attempts to breach these levels, it is met with considerable selling pressure. Martinez notes that nearly 40,000 addresses collectively holding over 4 billion MATIC tokens are within this range, adding to the challenge for Polygon to make significant upward movements.This resistance has left Polygon investors worried about the altcoin’s short-to-medium-term prospects. As a result, many are exploring alternative investment opportunities that offer a more favourable risk-reward profile.
Amidst the uncertainty surrounding Polygon, a notable
