MATIC Price Loses 50% Retracement Level Amid Market Correction; Whats’ Next?
With the increasing bearishness in the crypto market, the Matic coin price is extending its ongoing correction phase initiated in February mid. So far a V-top reversal from $1.53 has tumbled the coin price by 26.65% and has eradicated 50% of gains the coin holders witnessed during the January rally. Here’s how long the MATIC price prolongs its downfall until it recuperates the exhausted bullish momentum.
Key Points
- A bearish breakdown from the $1.16 support puts MATIC at risk of another 7% downfall
- The 200-day EMA closing to the $1.05 mark will increase the support strength of this level
- The intraday trading volume in the MATIC is $293.3 Million, indicating a 22.8% loss.

On February 18th, the MATIC price turned down from the $1.53 mark and triggered a new correction phase. The resulting V-top reversal breached several important support levels such as the last swing top of $1.3 and most recently the 0.5 Fibonacci retracement level.
This type of bearish reversal indicates strong commitment from sellers and intense selling pressure in the market. As mentioned above the coin price gave a bearish breakdown of 0.5 FIB level at $1.16, offering sellers an additional flipped resistance to bolster further downfall.
Also Read: Top 5 NFT Game Development Companies In 2023 ; Here’s The List
The potential downfall could plummet the price by 7% down to reach the combined support of $0.618 FIB and $1.05. The buyers should manage to sustain above this support as any further downfall will weaken the probability of uptrend resumption.
Technical Indicators
RSI: The daily RSI slope dives deeper into the negative territory indicating growth in underlying bearishness.
EMAs: The falling MATIC price recently breached the dynamic support of 20-and-50-day EMA slopes which could now act as significant resistance against potential growth.
MATIC Coin Price Intraday Levels
- Spot rate: $1.12
- Trend: Bearish
- Volatility: Medium
- Resistance levels- $1.16, and $1.3
- Support levels- $1.05 and $0.93
- Trump Tariff Tensions Ease as U.S. and China Hold Positive Trade Talks Ahead of Oct 30 Summit
- Polymarket Hits $20B in Trading Volume, Announces Plans for Massive POLY Token Airdrop
- James Wynn Takes XRP Long Bet After Ripple Prime Announcement
- Nasdaq-Listed Bonk Holdings Makes First Major Purchase of $32M, Nears 3% of Total Supply
- Binance-based Meme Coin GIGGLE Fund Shoots 145% on Exchange Listing News
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
- PUMP Price Prediction as Whales Accumulate 4.2B Tokens- Is 135% Rally Next?
- Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide