The price of Polygon (MATIC) has shown great strength in the past few weeks against Tether as it maintained its bullish sentiment. Despite the retracement across the crypto market, Polygon has shown great strength holding above $0.75 compared to other crypto assets that have lost their key support. (Data from Binance) Related Reading: Majority Of Ethereum Investors Maintain Profitability Despite Decline Below $1,700 Polygon (MATIC) Price Analysis On The Weekly Chart From the chart, the price of MATIC saw its weekly low at $0.75; the price of MATIC bounced from that region to a price of $1 on the weekly chart as the price is unable to show much strength to trend higher after being rejected. MATIC’s weekly candle closed with a bearish sentiment, with the new week’s candle looking more bearish. The price has continued to show little or no traction; If the price of MATIC on the weekly chart maintains this structure, it could retest its low of $0.6 as the support region on the weekly chart. For the price of MATIC to trend higher, it needs to hold above the resistance at $0.6 to enable the price to trend higher. Weekly resistance for the price of MATIC – $1. Weekly support for the price of MATIC – $0.6. Price Analysis Of MATIC On The Daily (1D) Chart The price of MATIC has found itself ranging in a channel after being rejected from the $1 mark despite showing bullish strength in weeks, rallying from $0.3 to t...
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