Matic bulls beat at $ 1.5, here is the upcoming level of support that needs to be observed (polygon price analysis)

Matic bulls beat at $ 1.5, here is the upcoming level of support that needs to be observed (polygon price analysis)

The rally is ended for polygon with the end of its elliot impulse wave.

polygon price analysis

Important support levels: $ 1.3, 1 $

Important resistance levels: $ 1.5

After a persistent rally, Matic seems to have found a local high with the key resistance of $ 1.5. The price was briefly over this level before the sellers took over the price campaign and pressed it down. This has shifted the dynamics, and the bears strive to bring the price to the key support at $ 1.3 or even $ 1.

Diagram of Tradingview

trading volume: The sales volume increases, and that is also reflected in the price.

rsi : After a short stay in the overbought area, the day-RSI falls towards 50 points.

MACD : The daily MacD has made a declining cross today and its histogram forms lower highs.

Diagram of Tradingview

bias

The tendency for Matic is declining.

short-term forecast for the Matic Prize

The rejection at $ 1.5 has stopped the current hopes for an increase in this cryptocurrency at that time. A correction currently seems to be the more likely scenario and it is interesting to see how the market will develop.

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