Crypto-Follow logo Crypto-Follow logo
Cryptoknowmics 2022-05-25 18:30:27

MATIC Technical Analysis: Will Buyers Reverse Trend Post-Consolidation?

MATIC price action shows a high potential of bullish reversal within the consolidation range. Should you keep an eye out for breakout? Key technical points: The MATIC market value inflated by 1.52% in the last 24 hours. Bollinger bands project a reversal in the lower band. The 24-hour trading volume of Polygon is $448 Million, indicating a fall of 15.81%. Past Performance of MATIC The MATIC price witnessed a dramatic increase of $0.50 and then to the upper resistance of $0.75; however, the upward trend could not surpass the opposition, resulting in a downward shift. But the critical support value at $0.60 maintains the low pressure at bay and boosts the likelihood of an upward trend. Source-Tradingview MATIC Technical Analysis In the event of being trapped in low range movements and the momentum of the trend is sucked upwards and waits for a surge in the volume of trading to release. Therefore, traders can anticipate an abrupt movement on either side. A bullish crossover between MACD and signal lines is an excellent way to encourage MATIC buyers, as is evident in the increasing trends of the bullish trend in histograms. The market price indicates a rise in the demand for the base since both VI lines from the Vortex indicator converge to create a bullish cross-over. In short, MATIC technical analysis displays a high consolidation breakout possibility. However, the direction of the breakout remains debatable as the low range kee...

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer