MATIC Price Struggles at $0.38 as Rotation Favors Newer Chains

MATIC's price has stagnated at $0.38 on extremely low volume, trading 45% below its 200-day moving average.

The token is closely tied to Bitcoin's risk appetite and has struggled to regain the attention of capital allocators due to the rotation towards newer chains and AI-adjacent protocols.

Despite efforts from Polygon, including the zkEVM push, enterprise partnerships, and rebranding, the chart suggests a downtrend with no signs of reversal.

The technical picture is bearish-to-neutral, with every moving average above the 7-day ($0.37) stacked above the current price.