Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. MATIC’s recent bearish comeback aided sellers in breaking down from its rising wedge setup. The crypto’s social dominance and open interest unveiled a slight bearish edge. The recent buying efforts pushed Polygon [MATIC] again above the […]
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.The crypto’s social dominance and open interest unveiled a slight bearish edge.again above the constraints of the daily 20 EMA and the 50 EMA as the price traced its way to test the $0.94-$0.93 resistance range.After plateauing at this range, MATIC marked an expected reversal from its bearish pattern.
A continued decline from the immediate resistance could find resting grounds at the $0.87-mark near the 20 EMA . A potential/ immediate reversal from this support could present buying opportunities. The first major resistance would lie in the $0.94 zone. Any close above this ceiling could carve a path for further gains.
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