Despite showing great recovery signs from a low of $0.33 with over 80% gains in weeks, Matic price faces strong resistance at $1.<\/p>\n
July has been good for most crypto projects, with the price of Matic surging to over 80% gains in just one month, although Matic price faces steep resistance at the $1 mark.<\/p>\n\n
Matic Weekly Chart Analysis<\/p>\n
The price of Matic moved from the low of $0.33 to a high of $1 before seeing a rejection to a region of $0.80.<\/p>\n
Matic saw a relief bounce when it met its all-time high (ATH) of 2021; this became a good support for Matic to build more buy pressure for a good relief bounce.<\/p>\n
Matic Weekly Price Chart Analysis | Source: MATICUSDT On Tradingview.com<\/p>\n
From the strong support built around $0.33, Matic has been able to form weak support on the weekly chart at around $0.589.<\/p>\n
A pull back on the weekly price of Matic would see us retesting the support region of $0.6 \u2013 $0.58.<\/p>\n
Major resistance on the weekly chart \u2013 $1<\/p>\n
Major support on the weekly chart \u2013 $0.6, $0.35<\/p>\n
Daily Analysis Of Matic Price
\nMatic Daily Chart Analysis As It Struggles To Break $1 Resistance | Source: MATICUSDT On Tradingview.com<\/p>\n
The daily chart for Matic price still looks good after being rejected from $1, which corresponds with the 200 EMA.\u00a0<\/p>\n
Matic is holding up well above the 50 EMA, which is good support on the daily timeframe.<\/p>\n
With trend reversal in a low timeframe, bulls could push the price high enough to break the 200 EMA resistance that has been tough to break. A successful break of the resistance at $1.02 could see the price of Matic go high as $1.3.<\/p>\n
The volume on the daily chart suggests buyers are still holding on to their position until a complete trend reversal on a higher timeframe.<\/p>\n
The relative strength Index (RSI) on the daily chart is at the 60 mark, which is a good sign as there is not much sell pressure on Matic.<\/p>\n
If Matic cannot hold the 50 EMA as support, should there be a shift in trend to the downside, the region of $0.6 \u2013 $0.589 has been a good support area to allow buyers to drive the price upward.<\/p>\n
Daily resistance \u2013 $1.02.<\/p>\n
Daily support \u2013 $0.74, $0.589.<\/p>\n
Matic Price On The 4H Chart
\nMatic 4H Chart Analysis After Rejection From 50 EMA | Source: MATICUSDT On Tradingview.com<\/p>\n
The price of Matic on the 4H chart shows the price is above the 200 EMA but struggling to break past the 50 EMA acting as resistance for Matic.<\/p>\n
Matic needs to break this resistance for bulls to push towards the $1 mark resistance that has proved difficult to break for Matic on the high timeframe.<\/p>\n
The volume on the chart shows more buyers stepping in to buy Matic at this level; the bounce across the market for Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies could push the price of Matic high above the current price.<\/p>\n
Matic needs to break and close above $0.88, which corresponds with the 50 EMA, to have a better chance of going higher; if Matic fails to break, then a pull back to the next support is expected.<\/p>\n
Resistance on the 4H chart \u2013 $0.88, $1.<\/p>\n
Support on the 4H chart \u2013 $0.776, $0.59.<\/p>\n\n
\u00a0<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Despite showing great recovery signs from a low of $0.33 with over 80% gains in weeks, Matic price faces strong resistance at $1.<\/p>\n
July has been good for most crypto projects, with the price of Matic surging to over 80% gains in just one month, although Matic price faces steep resistance at the $1 mark.<\/p>\n
Matic Weekly Chart Analysis<\/p>\n
The price of Matic moved from the low of $0.33 to a high of $1 before seeing a rejection to a region of $0.80.<\/p>\n
Matic saw a relief bounce when it met its all-time high (ATH) of 2021; this became a good support for Matic to build more buy pressure for a good relief bounce.<\/p>\n
Matic Weekly Price Chart Analysis | Source: MATICUSDT On Tradingview.com<\/p>\n
From the strong support built around $0.33, Matic has been able to form weak support on the weekly chart at around $0.589.<\/p>\n
A pull back on the weekly price of Matic would see us retesting the support region of $0.6 \u2013 $0.58.<\/p>\n
Major resistance on the weekly chart \u2013 $1<\/p>\n
Major support on the weekly chart \u2013 $0.6, $0.35<\/p>\n
Daily Analysis Of Matic Price
\nMatic Daily Chart Analysis As It Struggles To Break $1 Resistance | Source: MATICUSDT On Tradingview.com<\/p>\n
The daily chart for Matic price still looks good after being rejected from $1, which corresponds with the 200 EMA.\u00a0<\/p>\n
Matic is holding up well above the 50 EMA, which is good support on the daily timeframe.<\/p>\n
With trend reversal in a low timeframe, bulls could push the price high enough to break the 200 EMA resistance that has been tough to break. A successful break of the resistance at $1.02 could see the price of Matic go high as $1.3.<\/p>\n
The volume on the daily chart suggests buyers are still holding on to their position until a complete trend reversal on a higher timeframe.<\/p>\n
The relative strength Index (RSI) on the daily chart is at the 60 mark, which is a good sign as there is not much sell pressure on Matic.<\/p>\n
If Matic cannot hold the 50 EMA as support, should there be a shift in trend to the downside, the region of $0.6 \u2013 $0.589 has been a good support area to allow buyers to drive the price upward.<\/p>\n
Daily resistance \u2013 $1.02.<\/p>\n
Daily support \u2013 $0.74, $0.589.<\/p>\n
Matic Price On The 4H Chart
\nMatic 4H Chart Analysis After Rejection From 50 EMA | Source: MATICUSDT On Tradingview.com<\/p>\n
The price of Matic on the 4H chart shows the price is above the 200 EMA but struggling to break past the 50 EMA acting as resistance for Matic.<\/p>\n
Matic needs to break this resistance for bulls to push towards the $1 mark resistance that has proved difficult to break for Matic on the high timeframe.<\/p>\n
The volume on the chart shows more buyers stepping in to buy Matic at this level; the bounce across the market for Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies could push the price of Matic high above the current price.<\/p>\n
Matic needs to break and close above $0.88, which corresponds with the 50 EMA, to have a better chance of going higher; if Matic fails to break, then a pull back to the next support is expected.<\/p>\n
Resistance on the 4H chart \u2013 $0.88, $1.<\/p>\n
Support on the 4H chart \u2013 $0.776, $0.59.<\/p>\n
\u00a0<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-4809","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\/4809","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=4809"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4809\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4809"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}