- MATIC price has increased by 0.0706 within 3 days.
- The price of MATIC could show bullish trends if it can break the current ascending flag and resistance level.
- According to CoinMarketCap, the price of MATIC hovers around $0.9309.
MATIC is now safely trading sideways between its 4-Hour resistance and support. The resistance lies between $1.0284 and $1.0660, while the support area is between $0.6343 and $0.5812. If the price cannot break the 1st resistance and drop from that area, we expect MATIC to reach $0.7500.
Looking at the 4-Hour chart of MATIC/USDT, MATIC stayed above 200 MA and indicated an uptrend. During the past 12 hours, MATIC shows a price increase of 6%. But MATIC cannot seem to break out the 200 MA in the daily chart, and we can expect price turbulence when MATIC reaches the 200MA in the daily chart. Only once it breaks the 200MA and rises higher we can say MATIC is entirely bullish.
The relative strength index in the 4-Hour chart is now 66, which is known as the positive territory, indicating that buyers are now getting profit from the market. Readings above 50 suggest that the market is in an uptrend and there is a greater likelihood of price going up.
Another factor for the bears is that bulls placed a buy order block at $0.8323 and started buying MATIC. If the bulls keep seizing the uptrend throne, we expect the price to exceed $1.1880.
At the time of writing, MATIC is one of the top 100 biggest cryptos in terms of market cap, according to CoinMarketCap. It sits at the market rank of 12 with a market capitalization of over $7 billion. MATIC is currently trading at $0.9309 after reaching the highest of $0.9406 with a price increase of 3.06% within 24 hours.
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