The Polygon price dived more than 17% in the last week following a 4% 24-hour loss to trade at $0.4415 as of 11:38 p.m. EST as traders keep exerting sell pressure on the token.

Polygon 價格上週下跌超過 17%，截至晚上 11:38，24 小時下跌 4%，交易價格為 0.4415 美元。美國東部時間，交易員繼續對該代幣施加拋售壓力。

The drop in the MATIC price comes as Polygon converts its native token to the new POL token. MATIC holders on Ethereum are already able to swap their tokens for POL through the Polygon Portal. No action needs to be taken by MATIC holders on the Polygon chain or holders of staked MATIC, as their tokens will be automatically swapped on Sept. 4.

MATIC 價格下跌是因為 Polygon 將其原生代幣轉換為新的 POL 代幣。以太坊上的 MATIC 持有者已經能夠透過 Polygon Portal 將其代幣兌換為 POL。 Polygon 鏈上的 MATIC 持有者或質押 MATIC 的持有者無需採取任何行動，因為他們的代幣將於 9 月 4 日自動交換。

The Polygon Price Resting On A Crucial Support Level

多邊形價格處於關鍵支撐位

4-hour chart for MATIC/USDT (Source: TradingView)

MATIC/USDT 4 小時圖（來源：TradingView）

The Polygon price has been trading in a descending channel following a series of lower lows and lower highs over the past few days. Now, the altcoin is resting on the key support level at $0.4230. Should it drop below this technical safety net within the next 24 hours, the crypto could stand the risk of plunging to the subsequent mark at $0.3875.

在過去幾天出現一系列較低的低點和較低的高點之後，Polygon 價格一直在下降通道中交易。現在，山寨幣位於關鍵支撐位 0.4230 美元。如果在未來 24 小時內跌破這項技術安全網，加密貨幣可能會面臨暴跌至 0.3875 美元的風險。

However, MATIC maintaining a position above the $0.4230 support level for the next 24 hours could invalidate the bearish thesis. In this alternative scenario, the Polygon price might attempt to escape the bearish channel it is currently trapped in.

然而，MATIC 在未來 24 小時內維持在 0.4230 美元支撐位上方的位置可能會使看跌論點失效。在這種替代情況下，Polygon 價格可能會嘗試逃離目前陷入的看跌通道。

Technicals Suggest Bulls Are Fighting For Control Of The Polygon Price

技術面顯示多頭正在爭奪多邊形價格的控制權

From a technical perspective, indicators on MATIC’s 4-hour chart suggest the altcoin could rise through the course of the next trading day. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators suggest the bearish momentum is weakening. 

從技術角度來看，MATIC 4 小時圖表上的指標表明，山寨幣可能會在下一個交易日上漲。更具體地說，移動平均線收斂分歧（MACD）和相對強弱指數（RSI）指標顯示看跌勢頭正在減弱。 

RSI readings have risen throughout the past 24 hours, which traders usually see as an indication of sellers losing strength against buyers. What’s more, the RSI is closing in on its Simple Moving Average (SMA) on the 4-hour chart. An intersection between these two lines soon could signal that bulls have gained control of the Polygon price.

RSI 讀數在過去 24 小時內不斷上升，交易者通常將其視為賣方對買方力量減弱的跡象。更重要的是，RSI 正在接近 4 小時圖表上的簡單移動平均線 (SMA)。這兩條線之間的交叉很快可能表明多頭已經控制了 Polygon 價格。

Meanwhile, the MACD line has started to level off below the MACD Signal line. The prior is also rising towards the latter, which suggests MATIC’s negative trend might be coming to an end.

同時，MACD 線已開始在 MACD 訊號線下方趨於平穩。前者也在向後者上升，這表明 MATIC 的負面趨勢可能即將結束。