Binance recorded two significant transfers of 200 million MATIC each, while OKEx witnessed a transfer of 30 million MATIC. These transactions are valued at approximately $154.3 million and $11.45 million, respectively.
When whales move such large sums, it often hints at impending shifts in the market. This could indicate accumulation or liquidation, which can profoundly affect MATIC’s price trajectory.The RSI at 51.74 indicated a neutral position. This suggests that MATIC is neither overbought nor oversold, signaling consolidation and potential for a breakout in either direction.
However, the histogram value of 0.0003 indicates that the momentum is still weak, and stronger confirmation is needed to confidently call this a trend reversal.However, the histogram value of 0.0003 indicates that the momentum is still weak, and stronger confirmation is needed to call this a trend reversal confidently.The available on-chain signals show bullish trends, with net network growth at 0.33%, concentration of large holders at 0.25%, and large transactions registering a 2.92% increase.
While whale activity and on-chain data suggest a positive outlook for MATIC, technical analysis remains mixed.