The MATIC coin chart shows a steady technical rally with new highs and higher lows. Today the coin is up by 10% and is trying to breach the ATH resistance of $2.5. Reclaiming this crucial level, the coin could ride a stronger rally.
Previously we mentioned in our Polygon coin article; the pair was resonating in a rising parallel channel pattern. This pattern’s support trendline has been shifted a bit higher due to the rising bullishness in the coin.
On 14th December, the coin price bounced from the bottom trendline, initiating an impressive V-shaped recovery. The price is up by 45% and ready to challenge the ATH resistance around $2.5.
According to the EMA levels( 20, 50, 100, and 200), the MATIC price maintains a bullish trend. Moreover, the coin price obtains dynamic support from the 100 EMA line.
The daily Relative Strength Index (65) projects a bullish sentiment among the market buyers. However, the RSI line lagged up compared to the price action.
Today, the MATIC coin provides a decisive breakout from the crucial horizontal resistance and the ascending trendline together. If the price sustains above these levels, the crypto traders can expect a strong rally in this coin.
The traditional pivot shows remarkable confluence with the known price action level of the technical chart and, therefore, can provide a good hint of possible resistance level above. As per these EMAS, the nearest resistance area is $2.8, followed by $3.2.
The Moving average convergence divergence indicator for the 4-hour chart shows the fast line(blue) and slow line(orange) are moving higher up in the bullish zone.
Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…
Pro-crypto Mike Selig is reportedly the frontrunner to become the next chair of the U.S.…
Nate Geraci, president of Novadius Wealth Management, has predicted that several crypto ETF filings could…
Bitcoin-backed stocks of Strategy can now be accessed on Robinhood. This represents a significant move…
The Bitcoin ETFs have seen a huge turnaround this week, recording their largest weekly inflows…
Shiba Inu’s Layer 2 network, Shibarium, has returned online following a $4 million exploit that…