2022-06-29 12:58:44

MATIC Technical Analysis: Crashes Polygon Prices Halt At $0.50

MATIC prices action shows the downfall from the $0.60 mark sustaining above $0.50 struggling to reverse the bearish trend. Key technical points: The MATIC market price has increased by 5.60% over the past 24 hours. The price action shows a bullish reversal attempt from the $0.50 mark. The 24-hour trading volume of Polygon is $786 Million, indicating a rise of 40%. Past Performance of MATIC MATIC price action showcases a bullish reversal from $0.33 resulting in a rounding bottom breakout rally surpassing the long-coming resistance trendline. The bullish reversal reaches the $0.60 mark and accounts for a 76% jump with a rising trend in trading volume. However, the sellers at $0.60 overtake the price trend with an evening star pattern formation and retests the $0.50 breakout. Source- Tradingview MATIC Technical Analysis The bullish candle forming near $0.50 teases a trend reversal in MATIC prices but the higher price rejection in the previous candles warns against entering early. Hence, traders hoping for a reversal from the psychological mark of $0.50 must wait for a price action confirmation. The DMI displays the DI lines succumbing under increased selling rpessure resulting in a bearish crossover. However, the reversal from the $0.50 can help the DI lines regain bullish alignment. The MACD and signal lines showcase a fall in the bullish spread as they get closer to the zero line while maintaining a positive alignment. Hence, t...

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.