MATIC hits new ATH: 4 metrics to watch
MATIC's on another all-time high binge, so here are 4 quick metrics to watch:
1) Daily active addresses look very choppy - isolated spikes around local pumps, possibly a signal of increased sell-offs:
Unless we see a sustained uptick in address activity, we may expect volatile PA and a quick-fire correction with every new ATH push.
2) Daily deposits confirm the above - latest two price tops were marked by a clear uptick in deposits. These indicate rising sell-offs that may obstruct the rally:
3) Network Profit/Loss had a massive spike right as MATIC hit new ATH, suggesting significant profit-taking activity. Keep an eye on these if MATIC rallies once more:
4) Finally, last two price tops were marked with upticks in MATIC-related chatter, as the social sentiment hit 'peak hype'. This should be a good gauge of retail fear/greed as (or if) MATIC continues to pump:
Stay safe out there!