Why is Polygon MATIC falling? That’s the big question hitting the crypto headlines after Polygon co-founder Mihailo Bjelic officially stepped down from the Foundation. As investor concerns mount, $POL price is under pressure—dropping over 3.5% within a day of the announcement.
His decision, announced on May 23 via X (formerly Twitter), triggered not just uncertainty but also noticeable technical weakness in MATIC’s trading performance.
“As projects evolve and mature, it is natural for visions to evolve, and sometimes diverge,” Bjelic wrote on his official X account.
This high-profile exit added fuel to questions like why is $POL going down, as price volatility followed soon after.
According to CoinMarketCap, it is currently trading at $0.2369, down 3.54% over the past 24 hours.
Source: CoinMarketCap
The token has a market cap of $2.47 billion and a daily trading volume of $99.25 million, which is a significant 32.38% drop in trader interest. Currently, the crash in the price is the leading story across forums and news sites.
Technical data from TradingView paints a concerning picture:
Source: TradingView
As per the chart analysis, MACD has turned bearish, slowing down the growth.
Volume continues to decline, often a sign of cautious investor sentiment.
The price action has been trending downward since this Polygon coin news went viral, indicating how quickly the market reacts to such headlines like Polygon MATIC co-founder Mihailo Bjelic exit.
The token is getting close to a key support level at $0.215, which is a price where it has bounced back before. If MATIC manages to hold this level, it might go up for a while. But if it falls below $0.215, the price could drop further to around $0.195, which was last seen in late 2023. Because of this recent fall, many people are now searching why is it going down and wondering if the price will fall even more.
On the upside, any recovery in sentiment and volume could potentially push it back to $0.265, which corresponds to its last failed breakout attempt on the daily chart. For those still tracking the Polygon coin price prediction 2025, this level is certainly going to be a line of resistance.
Although there are worries about leadership changes, the network continues to stay active with recent news about the Agglayer Breakout Program.
Based on the foundation blog, the Agglayer Breakout Program is focused on "launching high-impact projects that drive significant activity" to the PoS chain and the Agglayer settlement network. This project is obviously critical for the long-term $POL matic price prediction and user confidence.
Bjelic's exit has created short-term uncertainty, but overall network fundamentals appear sound. The next few weeks will be pivotal as the $POL price tests the $0.215 support.
A breakdown could lead to further downside, but a rise along with volume may bring a bounce, perhaps validly adding as high as $0.265.
Investors should continuously consider any updates and on-chain activity and sentiment before making decisions. Regardless of a (potentially) bullish rebound higher or lower in the polygon coin price, the impact created by the Polygon co-founder Mihailo Bjelic exit has obviously caused a crash throughout the market.
Also read: Tomarket Daily Combo 25 May 2025: Boost Your Earning
WhatsApp
Telegram
