Polygon (MATIC) price action trades in a tight range on Tuesday. MATIC has been on the continuous downward momentum since February 16 with a 35% descent. The formation of a triple bottom near $1.40 suggests a reversal from the current levels.
Polygon (MATIC) price trades with modest gains bucking the previous day’s trend.
A close above $1.50 could reverse the downward trend.
Investors seek an upside of 45% from the current levels.
As of press time, MATIC/USD is trading at $1.40, down 0.31% for the day. The 16th largest cryptocurrency by the market cap held the 24-hour trading volume of $1,758,620,513 with more than 100% gains.
MATIC trades near critical level
Polygon (MATIC) has formed a ‘Head $ Shoulder’ pattern a bearish reversal pattern. After the price of MATIC peaked at $2.92 marking an all-time high it retraced back almost 55% towards the lows made in January.
Source: Trading View
The selling pressure intensified as soon as MATIC breaks the neckline of the described tradi
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