Friday, December 9, 2022
 

MATIC Recovers to $0.7477 After a Successive Bullish Spell

  • Polygon price analysis finds MATIC is in a firm bullish trend.
  • Polygon is up by 2.42%.
  • Polygon has been on a steady uptrend in the last 24 hours.

Polygon price analysis reveals that the MATIC price consolidation fell below $0.758 on September 19, which signals that people are selling and stopping their liquidity runs.

MATIC/USD daily chart,source:Coinmarketcap

The bulls managed to push the price back up to $0.7587 on September 20, which signifies that they are still in control of the market. The buyers need to push the price above $0.76 to invalidate the bearish setup and start a new rally. On the other hand, if the bears push the price below $0.755, it would signal that they are back in control of the market.

Over the last 48 hours, MATIC’s price saw a surge in selling pressure that broke through its previous range, causing it to drop even further. As a result, Polygon was able to collect the sell-stop liquidity that was resting below equal lows.

As the market consolidates, the bulls are trying to push the price up to retest the resistance at $0.76. If they succeed, it would invalidate the bearish setup and could start a new rally.

The technical indicators are positive and indicate that the bulls are in control of the market. Meanwhile, the market is currently above the 20-day moving average ($0.754) and the 50-day moving average ($0.751), which is a sign that the bulls are in control of the market.

The RSI (Relative Strength Index) is currently at 62, which is not in overbought or oversold territory, which is a sign that the market is in a healthy state. The Bollinger Bands have expanded, which is a sign that the market is volatile and that a breakout is likely. The upper band is at $0.762 and the lower band is at $0.752. These levels act as both support and resistance for the market.

MATIC/USD 4-hour chart,source:TradingView

The MACD (Moving Average Convergence Divergence) is currently in the bullish zone, but it is close to the centerline, which is a sign that the market could be range-bound for some time.

Overall, the market is in a bullish state as the bulls have pushed the price above the $0.755 level. The next level to watch for a breakout is $0.76. A break above this level would invalidate the bearish setup and start a new rally.

On the other hand, if the bears push the price below $0.755, it would signal that they are back in control of the market. The next level to watch for a breakdown is $0.75. A break below this level would confirm that the bulls are losing control of the market.

  • Polygon price analysis finds MATIC is in a firm bullish trend.
  • Polygon is up by 2.42%.
  • Polygon has been on a steady uptrend in the last 24 hours.

Polygon price analysis reveals that the MATIC price consolidation fell below $0.758 on September 19, which signals that people are selling and stopping their liquidity runs.

MATIC/USD daily chart,source:Coinmarketcap

The bulls managed to push the price back up to $0.7587 on September 20, which signifies that they are still in control of the market. The buyers need to push the price above $0.76 to invalidate the bearish setup and start a new rally. On the other hand, if the bears push the price below $0.755, it would signal that they are back in control of the market.

Over the last 48 hours, MATIC’s price saw a surge in selling pressure that broke through its previous range, causing it to drop even further. As a result, Polygon was able to collect the sell-stop liquidity that was resting below equal lows.

As the market consolidates, the bulls are trying to push the price up to retest the resistance at $0.76. If they succeed, it would invalidate the bearish setup and could start a new rally.

The technical indicators are positive and indicate that the bulls are in control of the market. Meanwhile, the market is currently above the 20-day moving average ($0.754) and the 50-day moving average ($0.751), which is a sign that the bulls are in control of the market.

The RSI (Relative Strength Index) is currently at 62, which is not in overbought or oversold territory, which is a sign that the market is in a healthy state. The Bollinger Bands have expanded, which is a sign that the market is volatile and that a breakout is likely. The upper band is at $0.762 and the lower band is at $0.752. These levels act as both support and resistance for the market.

MATIC/USD 4-hour chart,source:TradingView

The MACD (Moving Average Convergence Divergence) is currently in the bullish zone, but it is close to the centerline, which is a sign that the market could be range-bound for some time.

Overall, the market is in a bullish state as the bulls have pushed the price above the $0.755 level. The next level to watch for a breakout is $0.76. A break above this level would invalidate the bearish setup and start a new rally.

On the other hand, if the bears push the price below $0.755, it would signal that they are back in control of the market. The next level to watch for a breakdown is $0.75. A break below this level would confirm that the bulls are losing control of the market.

 

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