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Polygon [MATIC] embarks on a downward move, watch out for this support level

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ambcrypto.com

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Polygon [MATIC] witnessed a spike in development activity according to Santiment, but social engagement has seen a dip over the past month.

On the charts, MATIC saw a sharp rejection at the $0.94 resistance mark.At the time of writing, the momentum was in favor of the sellers.

Yet, this could quickly change if Bitcoin [BTC] bulls hauled BTC past $19.4k. Can the native token of Polygon flip the $0.77 level back to support, or would it see further losses to move toward $0.67?Source: MATIC/USDT on TradingViewTowards the end of August, the bulls were able to initiate a strong rally to $0.94.

This level of resistance had been a significant resistance zone in early August as well, before the bulls were able to force a break above.At the time of writing, the $0.77 support zone had been retested as resistance.

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