Published by a 4 hour ago
Brian Bollinger The formation of a rounding top pattern led to a sustained recovery in the price of polygon coins since January 1. This pattern is a classic example for a trend reversal. The u-shaped recovery indicates a smooth transition from a downtrend into an uptrend. This bull run has seen 60% growth, with the current price at $1.2. However, here’s how the full potential of this pattern may influence MATIC’s future.advertisementKey Points The $1.3 resistance breakout could set MATIC price on a 50% upswing
The 20-day EMA provides dynamic support for rising coin prices
The MATIC’s intraday trading volume is $541.2 Million. This indicates a 4.5% gain.
Source: -TradingviewOn February 1, the price of the polygon coin experienced a bullish breakout at $1.19, a resistance level. This breakout should give buyers a substantial footing to continue the bullish rally. The market is uncertain at the moment so buyers will need to be ready to take advantage of side-lined trades to gain entry opportunities. The MATIC price is expected to break the $1.3 neckline resistance under the influence from the rounding bottom pattern. Trending Stories This bearish divergence suggests a strong possibility for minor correction before the price breaches the $1.3 barrier. This bearish divergence hints strong possibility for minor correction before the price breach the $1.3 barrier.advertisementEMAs: a bullish crossover between the 100-and-200-day EMA accelerates the buying pressure in the market.Spot rate: $1.2
Trend: Bearish
Volatility Medium
Resistance levels: $1.3 and $1.45
Support levels: $1.19 and $0.01.05
Share this article:About author
Disclaimer
The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. Close Story