Polygon, Dogecoin and Bitcoin – European Wrap 2 May

Polygon (MATIC) price has been on a risky drop towards $1.00 over the weekend. Although it was expected that on Saturday, a turnaround would occur, traders instead saw a continuation of the dollar strength squeeze, and investors turning their backs on risk assets. A turnaround got triggered on Sunday, however, as the Relative Strength Index (RSI) dropped into oversold territory and made bears take their profit and close their short positions, spelling a turnaround in MATIC price back up to $1.312.


Dogecoin price showed massive promise last week after an impulsive uptrend. However, the subsequent selling pressure has caused DOGE to retrace lower, delaying its breakout and hence the rally.

DOGE/USDT 1-week chart


Bitcoin price seems like it is stabilizing around a significant support level that has been battle-tested twice over the last three months. A resurgence of buying pressure is likely to propel BTC and all altcoins higher.

BTC/USDT 3-day chart





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