Polygon: Are more gains likely for long-term MATIC holders?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion MATIC was bullish on a lower timeframe. Short-term HODLers saw 18% profit from the recent rally. Polygon’s [MATIC] rally on 20 January posted about 10% gains after the asset rose from $0.9400 to $1.0400. […]

According to Santiment, there was a significant spike in active hourly addresses by the time of publication. This showed that more accounts traded MATIC in the past hour, thus boosting the buying pressure and the uptrend momentum. Eventually, this could push MATIC’s prices up.

In addition, MATIC’s Funding Rate exhibited a positive elevation, indicating a demand for the asset in the derivative market. Increased demand from the derivatives market could further propel MATIC to overcome its $1.0264 hurdle and target the $1.0512 resistance level. Moreover, short-term MATIC HODLers have seen profits for the past 11 days, as evidenced by the positive 30-day MVRV ratio. The gains peaked on 16 January at about 22%.

At press time, short-term holders posted 18% gains from the Friday rally, and more gains could be expected if BTC maintains the $22K mark.Subscribe to get it daily in your inbox.

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