MATIC Technical Analysis: Price at 200-Day EMA Aims to Touch $3

The MATIC coin price aims to overcome sellers at $2.5 to regain bullish momentum and bring a bullish breakout of a long-coming resistance trendline. Polygon (previously Matic Network) is the first well-organized and user-friendly platform to support Ethereum infrastructure development and scaling. The core component of the platform is the Polygon SDK, a modular, flexible framework that can be used to build different kinds of applications. Polygon effectively converts Ethereum into a fully-fledged Multi-chain System. The multi-chain system is similar to others like Polkadot, Cosmos, Avalanche, and so on. Let us move ahead to read about Polygon technical analysis. Past Performance of MATIC The MATIC coin price shows a growth of more than 5% in the past 24 hours despite a previous higher price rejection candle. The price action maintains a sideways movement between $1.5 and $1.75. The recent long-range candles indicate increased trend volatility in the short term as buyers struggle to regain trend control. MATIC/USD Daily Chart MATIC Technical Analysis The MATIC coin price rises higher but struggles to overcome sellers at the 200-day EMA. However, the growing interest in DeFi-related coins can shortly result in a bullish recovery for Polygon. The crucial Exponential Moving Averages show increased chances of a bearish crossover of the 50 and 100-day EMA. Moreover, the struggling prices to overcome the selling pressure at the 200-d...