MATIC prices action shows the downfall from the $0.60 mark sustaining above $0.50 struggling to reverse the bearish trend. Key technical points: The MATIC market price has increased by 5.60% over the past 24 hours. The price action shows a bullish reversal attempt from the $0.50 mark. The 24-hour trading volume of Polygon is $786 Million, indicating a rise of 40%. Past Performance of MATIC MATIC price action showcases a bullish reversal from $0.33 resulting in a rounding bottom breakout rally surpassing the long-coming resistance trendline. The bullish reversal reaches the $0.60 mark and accounts for a 76% jump with a rising trend in trading volume. However, the sellers at $0.60 overtake the price trend with an evening star pattern formation and retests the $0.50 breakout. Source- Tradingview MATIC Technical Analysis The bullish candle forming near $0.50 teases a trend reversal in MATIC prices but the higher price rejection in the previous candles warns against entering early. Hence, traders hoping for a reversal from the psychological mark of $0.50 must wait for a price action confirmation. The DMI displays the DI lines succumbing under increased selling rpessure resulting in a bearish crossover. However, the reversal from the $0.50 can help the DI lines regain bullish alignment. The MACD and signal lines showcase a fall in the bullish spread as they get closer to the zero line while maintaining a positive alignment. Hence, t...
