MATIC, following a notable price pullback that briefly dipped to $0.53, has encountered a slowdown in its bullish momentum. Over the past 24 hours, the altcoin witnessed a decrease of around 1.5% in its value, with weekly losses amounting to 4.8%.<\/p>\n
Currently, MATIC is hovering around a critical support level. This indicates that bears might dominate the upcoming trading sessions unless they move away from this support zone. To regain bullish traction, MATIC must sustain a price above the current support level.<\/p>\n
If successful, the altcoin may attempt to rise again. However, to fully restore its bullish momentum, it will be essential for MATIC to trade above the $0.85 price mark, which has previously acted as significant resistance. The slight decline in MATIC\u2019s market capitalization indicates a potential slowdown in buying strength on its daily chart.<\/p>\n
At the time of writing, MATIC was trading at $0.75, having experienced a sharp decline from its previous position at $0.90. Despite a recovery attempt, MATIC is currently trapped at a crucial support level.<\/p>\n
The $0.75 price mark holds significant importance, as failure to sustain it could lead to a loss of buyer momentum, potentially pushing the price down to $0.65.<\/p>\n
If the altcoin falls below $0.65, it may further drop to $0.60. For MATIC to reverse its downward trend in the upcoming trading sessions, it must successfully surpass the $0.80 level. Achieving this could propel MATIC towards the challenging resistance at $0.85, a historical price ceiling for the altcoin.<\/p>\n
Due to decreased demand, the altcoin experienced a decline in buying strength when it failed to maintain its price at $0.76. Although the Relative Strength Index (RSI) remained above the half-line, the reduced presence of buyers was evident.<\/p>\n
If bears push the price further, sellers could gain complete control of the price action. Additionally, the altcoin\u2019s price was slightly above the 20-Simple Moving Average (20-SMA) line.<\/p>\n
However, in the next trading session, MATIC might dip below the 20-SMA, indicating a gradual exit of buyers from the market.<\/p>\n
The daily chart for the altcoin has shown clear signs of buyers exiting the market, with a sell signal becoming evident. The Moving Average Convergence Divergence (MACD) displayed one red histogram, signaling a sell indication for the altcoin.<\/p>\n
Moreover, the Directional Movement Index (DMI) indicated a negative direction for the asset. The -DI line (orange) crossed over the +DI line (blue), pointing to the altcoin\u2019s bearish movement.<\/p>\n
Furthermore, the Average Directional Index (ADX \u2013 red) dipped and was close to the 20-mark, suggesting a weakening strength in the bullish price action.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
MATIC, following a notable price pullback that briefly dipped to $0.53, has encountered a slowdown in its bullish momentum. Over the past 24 hours, the altcoin witnessed a decrease of around 1.5% in its value, with weekly losses amounting to 4.8%.<\/p>\n
Currently, MATIC is hovering around a critical support level. This indicates that bears might dominate the upcoming trading sessions unless they move away from this support zone. To regain bullish traction, MATIC must sustain a price above the current support level.<\/p>\n
If successful, the altcoin may attempt to rise again. However, to fully restore its bullish momentum, it will be essential for MATIC to trade above the $0.85 price mark, which has previously acted as significant resistance. The slight decline in MATIC\u2019s market capitalization indicates a potential slowdown in buying strength on its daily chart.<\/p>\n
At the time of writing, MATIC was trading at $0.75, having experienced a sharp decline from its previous position at $0.90. Despite a recovery attempt, MATIC is currently trapped at a crucial support level.<\/p>\n
The $0.75 price mark holds significant importance, as failure to sustain it could lead to a loss of buyer momentum, potentially pushing the price down to $0.65.<\/p>\n
If the altcoin falls below $0.65, it may further drop to $0.60. For MATIC to reverse its downward trend in the upcoming trading sessions, it must successfully surpass the $0.80 level. Achieving this could propel MATIC towards the challenging resistance at $0.85, a historical price ceiling for the altcoin.<\/p>\n
Due to decreased demand, the altcoin experienced a decline in buying strength when it failed to maintain its price at $0.76. Although the Relative Strength Index (RSI) remained above the half-line, the reduced presence of buyers was evident.<\/p>\n
If bears push the price further, sellers could gain complete control of the price action. Additionally, the altcoin\u2019s price was slightly above the 20-Simple Moving Average (20-SMA) line.<\/p>\n
However, in the next trading session, MATIC might dip below the 20-SMA, indicating a gradual exit of buyers from the market.<\/p>\n
The daily chart for the altcoin has shown clear signs of buyers exiting the market, with a sell signal becoming evident. The Moving Average Convergence Divergence (MACD) displayed one red histogram, signaling a sell indication for the altcoin.<\/p>\n
Moreover, the Directional Movement Index (DMI) indicated a negative direction for the asset. The -DI line (orange) crossed over the +DI line (blue), pointing to the altcoin\u2019s bearish movement.<\/p>\n
Furthermore, the Average Directional Index (ADX \u2013 red) dipped and was close to the 20-mark, suggesting a weakening strength in the bullish price action.<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-27169","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/27169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=27169"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/27169\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=27169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=27169"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=27169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}