CandleFocus MATIC Price (Polygon) Sets Stage for Rally, $0.80 In Sight
2024-12-03
Author: Content Editor
The news content discusses the positive signs in the price of MATIC, the cryptocurrency associated with the Polygon network. MATIC has formed a base above the $0.5750 level and has started to rise above the $0.600 pivot level. It has broken through resistance levels, including a short-term bearish trend line, and is now consolidating gains above the 23.6% retracement level. MATIC is currently trading above $0.650 and the 100 simple moving average, with immediate resistance near the $0.680 level. If it can break above the $0.70 resistance, the price could continue to rise, potentially reaching levels around $0.780 or $0.80. However, if it fails to break the resistance, it could see another decline with support levels at $0.650 and $0.6250. Technical indicators suggest bullish momentum with a gaining MACD and the RSI above 50.
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