PolygonMATICThe ) is down more than 40% since Dec. 27, 2021, when it hit a record high at $2.92. The token still has room for more drops in sessions ahead, if the classic technical indicator is true.

MATIC’s recent flip from bearish to bullish has been followed by an upside rebound. This appears to have led to what looks like an Handle and inverted cup — a large crescent shape followed by a less extreme upside retracement, as shown in the chart below.