The post MATIC Price Analysis: With A Buyer’s Barricade At $0.52, Will MATIC Bounceback? appeared first on Coinpedia Fintech News
Dropping to a Year-to-Date move of 25%, the MATIC price is trading at a 64% discount from the 2023 high of $1.56. Avoiding a new bottom formation in 2023, Polygon finds a bullish barricade at $0.52, avoiding a drop to $0.50.
The demand belt forming at $0.52 helps in a double bottom reversal with a neckline at the $0.62 resistance zone. Moreover, the recovery rally challenges the short-coming downtrend.
The MATIC price action forms a morning star pattern at $0.52 and jumps by 2.59% to challenge the new-born resistance trendline. Moreover, the increasing lower price rejection candle at the $0.52 mark increases the breakout chances.
MATIC Price Teases A New Breakout Rally
With a solid resistance trendline, prominent in the 4-hour chart, the MATIC price action displays a descending triangle shadow. Moreover, the price action displays a rounding reversal,
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