Crypto Technical Analysis: Polygon Nears Technical Support

Polygon (MATIC) has fallen over 40% from its March 2024 highs. All the talk of an altcoin bull market seems far fetched at this time. Investors in crypto altcoins are largely underwater. While it may be just a near-term major support, the $0.69 level on Polygon could be a solid bounce level. There is a confluence of technical levels that converge in this range. Probability wise, the more levels that converge at a technical point, the higher the odds of a technical bounce.