The MATIC coin price finds a sudden increase in the selling pressure, which questions the credibility of bulls near the $1.5 support zone. Polygon (previously Matic Network) is the first structured platform that is easy to use to support Ethereum scale and infrastructure development. The core component of the platform is the Polygon SDK, which is a modular, flexible framework that can be used to build various types of applications. Utilizing Polygon you can make optimistic rollup chains ZK chain rollups, stand-alone chains, or any other type of infra needed by the creator. Let us move ahead to read about Polygon technical analysis. Past Performance of MATIC The MATIC coin price fails to break above the 200-day EMA as it falls 9.93% in the past 24 hours, with growth in intraday trading volume. The price faces rejection from the 7-day resistance near the $1.70 mark. However, the price sustains above the $1.5 support zone and teases a possible double bottom formation. MATIC/USD Daily Chart MATIC Technical Analysis The MATIC coin price trends closer to the support zone at $1.50 and shows increased trend momentum evident by the sudden reversal. However, the bulls take a last stand to sustain the uptrend. The crucial Exponential Moving averages show the 50-day EMA on the verge of giving a bearish crossover with the 100-day average. The price retests the 200-day EMA fallout and continues the downtrend. The DMI indicator shows the DI ...
