MATIC price had been on a bearish trajectory for the past few days. Over the last week, the coin hasn\u2019t made any progress in terms of price appreciation. In the last 24 hours however, MATIC registered a 2% increase in its market value.<\/p>\n
Currently Polygon MATIC price is slightly underneath the $1 price mark. Price of MATIC has been stuck below the $1 mark for months now, every time the bulls start to pick up momentum, the coin was met with selling pressure.<\/p>\n
For MATIC to invalidate the bearish thesis completely, it is important that the coin trades above the $1 mark for a considerable duration. Technical outlook for the coin has turned positive however, this positive reading could soon lose steam if buying strength doesn\u2019t remain consistent over the next trading sessions.<\/p>\n
At the current moment, MATIC has registered increased number of buyers compared to sellers. MATIC price still has to encounter a tough resistance at the $1 mark. The coin hasn\u2019t been able to break past that resistance for months now. A small decline in price would push MATIC price to $0.74 before another potential rally.<\/p>\n
MATIC Price Analysis: Four Hour Chart
\nMATIC was priced at $0.92 on the four-hour chart | Source: MATICUSD on TradingView<\/p>\n
The price of the altcoin was $0.92 at the time of writing. MATIC price was trading close to its $1 price mark, the bulls tried to push price towards the $1 mark at the end of last month but it was invalidated by sellers in the market. A strong overhead resistance for MATIC was at $1.<\/p>\n
A fall from the present price level will drag the altcoin down to $0.73 and then eventually to $0.68. Amount of MATIC traded in the past session fell on the chart. This reading is tied to a fall in selling strength for the altcoin in the market.<\/p>\n
Technical Analysis
\nMATIC registered increased buying strength on the four-hour chart | Source: MATICUSD on TradingView<\/p>\n
Polygon\u2019s MATIC price had registered a substantial recovery since the middle of last month. Despite the recovery, MATIC had visited the oversold territory once and had also registered increased number of sellers compared to buyers.<\/p>\n
At press time however, buying strength remained more than selling pressure.<\/p>\n
The Relative Strength Index was placed slightly above the half-line indicating bullishness as buyers exceeded sellers.<\/p>\n
MATIC price was above the 20-SMA line. Price of the altcoin also managed to move above the 50-SMA. Both these observations point towards buyers driving the price momentum in the market.<\/p>\n
MATIC displayed sell signal bars on the four-hour chart | Source: MATICUSD on TradingView<\/p>\n
The altcoin has managed to paint mixed technical signals. MATIC captured sell signal on its four-hour chart. Moving Average Convergence Divergence depicts the price momentum and trend reversal.<\/p>\n
The indicator despite a minor price appreciation underwent a bearish crossover and flashed red signal bars. The red signal bars are an indication of sell signal on the chart.<\/p>\n
Chaikin Money Flow is responsible in determining capital inflows and outflows.<\/p>\n
CMF stood above the half-line, into the positive zone as the coin registered increased amount of capital inflows than outflows. For MATIC to soar past the $1, broader market strength and buying pressure will be required.<\/p>\n
Featured image from The Face and chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
MATIC price had been on a bearish trajectory for the past few days. Over the last week, the coin hasn\u2019t made any progress in terms of price appreciation. In the last 24 hours however, MATIC registered a 2% increase in its market value.<\/p>\n
Currently Polygon MATIC price is slightly underneath the $1 price mark. Price of MATIC has been stuck below the $1 mark for months now, every time the bulls start to pick up momentum, the coin was met with selling pressure.<\/p>\n
For MATIC to invalidate the bearish thesis completely, it is important that the coin trades above the $1 mark for a considerable duration. Technical outlook for the coin has turned positive however, this positive reading could soon lose steam if buying strength doesn\u2019t remain consistent over the next trading sessions.<\/p>\n
At the current moment, MATIC has registered increased number of buyers compared to sellers. MATIC price still has to encounter a tough resistance at the $1 mark. The coin hasn\u2019t been able to break past that resistance for months now. A small decline in price would push MATIC price to $0.74 before another potential rally.<\/p>\n
MATIC Price Analysis: Four Hour Chart
\nMATIC was priced at $0.92 on the four-hour chart | Source: MATICUSD on TradingView<\/p>\n
The price of the altcoin was $0.92 at the time of writing. MATIC price was trading close to its $1 price mark, the bulls tried to push price towards the $1 mark at the end of last month but it was invalidated by sellers in the market. A strong overhead resistance for MATIC was at $1.<\/p>\n
A fall from the present price level will drag the altcoin down to $0.73 and then eventually to $0.68. Amount of MATIC traded in the past session fell on the chart. This reading is tied to a fall in selling strength for the altcoin in the market.<\/p>\n
Technical Analysis
\nMATIC registered increased buying strength on the four-hour chart | Source: MATICUSD on TradingView<\/p>\n
Polygon\u2019s MATIC price had registered a substantial recovery since the middle of last month. Despite the recovery, MATIC had visited the oversold territory once and had also registered increased number of sellers compared to buyers.<\/p>\n
At press time however, buying strength remained more than selling pressure.<\/p>\n
The Relative Strength Index was placed slightly above the half-line indicating bullishness as buyers exceeded sellers.<\/p>\n
MATIC price was above the 20-SMA line. Price of the altcoin also managed to move above the 50-SMA. Both these observations point towards buyers driving the price momentum in the market.<\/p>\n
MATIC displayed sell signal bars on the four-hour chart | Source: MATICUSD on TradingView<\/p>\n
The altcoin has managed to paint mixed technical signals. MATIC captured sell signal on its four-hour chart. Moving Average Convergence Divergence depicts the price momentum and trend reversal.<\/p>\n
The indicator despite a minor price appreciation underwent a bearish crossover and flashed red signal bars. The red signal bars are an indication of sell signal on the chart.<\/p>\n
Chaikin Money Flow is responsible in determining capital inflows and outflows.<\/p>\n
CMF stood above the half-line, into the positive zone as the coin registered increased amount of capital inflows than outflows. For MATIC to soar past the $1, broader market strength and buying pressure will be required.<\/p>\n
Featured image from The Face and chart from TradingView.com<\/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-5214","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\/5214","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=5214"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/5214\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=5214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=5214"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=5214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}