Matic crashes 13 % per week, is $ 1 imminent? (Polygon price analysis)

Matic crashes 13 % per week, is $ 1 imminent? (Polygon price analysis)

With the downward trend in full power, Matic has difficulty finding support.

polygon price analysis

Important support levels: $ 1

Important resistance level: $ 1.5, $ 1.5

The support at $ 1.3 could not ward off the attack of the bears, and Matatic fell under this critical level, which has now transformed into resistance. If the sellers continue to maintain this pressure, the cryptocurrency can ultimately fall to $ 1.

Diagram of TradingView

trading volume: The volume is rather flat, but buyers cannot be found anywhere.

rsi : The day-RSI fell below 50 points and it seems unlikely that it will change his course in the foreseeable future.

macd : The daily MacD is declining. This signals that sellers will dominate the chart in the next few days.

Diagram of TradingView

bias

The tendency for Matic is declining.

short-term forecast for the Matic Prize

Since the support is lost at $ 1.3, buyers seem to have withdrawn and will probably remain at the level of $ 1. This brings sellers on the offensive because they control the price movement.

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