Polygon (CRYPTO:MATIC) has seen a recent uptick of 5% over the last 24 hours, rebounding from a 36% decline since mid-May and currently trading at $0.50.

The altcoin's Relative Strength Index (RSI) has entered oversold territory, indicating a potential reversal in its downtrend.

With fewer than 8% of MATIC addresses currently in profit, there is reduced selling pressure, potentially stabilising prices or driving them upwards as investors hold out for better returns.

The market sentiment suggests a cautious optimism for MATIC's recovery, contingent on sustained demand and favorable market conditions.