Published 21 minutes ago by
Brian Bollinger The MATIC coin price experienced a bullish reversal following an ascending trendline. It reached the $0.87 barrier with high momentum. This resistance breakout should restore buying momentum and provide support for buyers to regain their prior recovery. AdvertisementKey points The flattish EMAs (20, 50, 100 and 200) highlight a sideways trend.
An ascending trendline continues the bullish rally in MATIC coin price.
The MATIC’s intraday trading volume is $392.5 Million. This indicates a 32.6% loss.
Source: -TradingviewThe MATIC coin price has managed to hold above the $0.76 horizontal and ascending trendline during the recent consolidation phase of the crypto market. The rising trendline is indicative of a steady uptrend that has supported the falling altcoin multiple time. The MATIC price showed a huge breakout from the resistance with strong volume, which indicates that buyers are confident to go higher. Trending StoriesThe Polygon coin has surged 10.5% over the past four days, trading at $0.91 currently. The prices are being reverted to retest the breached support. The altcoin could rally to $1.03 if buyers can sustain above the $0.87-$0.864 level. However, Michael van de Poppe, Eightglobal CEO and Founder, recently posted a bullish outlook on MATIC price via Twitter. Technical IndicatorsEMAs. The massive green candle that broke through $0.87 resistance on November 30th also broke through a group of EMA slopes (20-50, 100). Thus, these reclaimed EMAs could offer additional support to bolster price recovery.advertisementRSI: the daily-RSI jump above the neutral line highlight positive sentiment among market participants.MATIC Coin Price Intraday LevelsSpot rate: $0.91
Trend: Bullish
Volatility Low
Resistance levels: $0.965 and $1.03
Support levels: $0.86 and $0.76
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The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. Close Story