MATIC consolidated narrowly above $0.50 after retesting a crucial bullish zone.
was yet to reverse recent losses after dipping to $25.16k. At the time of writing, it struggled to stay above $26k, which could further delay a strong rebound for MATIC.The Relative Strength Index retreated to the oversold zone and has stayed there since 17 August. It underscores the prevalent selling pressure that hadn’t abated yet at the time of writing.
Similarly, the Chaikin Money Flow has been wavering below zero. The trend demonstrates a muted capital inflow, reinforcing the bearish bias on the spot market. MATIC’s drop eased at the bullish order block above $0.50 . The level aligns with June lows, which saw successful rebounds upon retest. However, the weak BTC could delay a solid MATIC rebound.
So, sellers could push it lower to $0.509 if BTC records extra losses. But a liquidity hunt below $0.50 couldn’t be overruled. Conversely, a solid rebound could tip bulls to target $0.65 or $0.70, especially if BTC recovers lost ground in the next few days.
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