Polygon, a prominent layer-2 network, has been around for seven years, with its native token, MATIC, once ranking among the top 15 cryptocurrencies. However, MATIC's performance has been declining since last year, pushing it out of the top list. With the current crypto market downturn, MATIC's prospects seem bleak. But will it recover, especially this June?

MATIC's price peaked two and a half years ago, reaching an all-time high of $2.92, which is 81% higher than its current value. Since then, it has been stuck in a range, with a few brief peaks, including a year-high of $1.24 in March. Unfortunately, MATIC has failed to match its past performance, lagging behind its ATH.

The biggest drop occurred on June 5, 2024, but MATIC showed a 3.35% recovery today, rising from $0.53 to $0.57. This slight recovery also boosted market capitalization by 3.4%. However, the 24-hour trading volume continues to decline, indicating decreased network activity among holders.

Technical indicators suggest a continued bearish trend for MATIC. The Relative Strength Index (RSI) indicates overselling, while the MACD and SMA levels point to a bearish outlook. This bearish trend may persist throughout June, but historical data suggests a possible recovery in July, as MATIC has been bullish in July for the past three years.

In conclusion, MATIC's performance has been underwhelming, but Polygon's continuous upgrades and partnerships, such as the recent collaboration with Ronin and FOX News, may help MATIC recover in the long run. While the current outlook seems bleak, the upcoming altcoin season may bring new life to MATIC and other altcoins. Only time will tell if MATIC can bounce back and regain its former glory.