MATIC Logs Double Digit Gains, What Could Be The New Targets?

2022-7-19 04:00

MATIC propelled significantly over the last 24 hours driving price of the asset close to the dollar mark. It has followed the path of an upward trendline and soared substantially. MATIC has continued its bullish price trajectory since a week and the asset brought double-digit gains.

The altcoin has broken past several crucial resistance marks and now stands above the $0.77 support line. Pullback chances cannot be ruled out as the coin has been quite optimistic in the last week. Bitcoin recently touched the $22,000 level pushing major altcoins in the upward direction.

The altcoin’s bulls are now in control as the buyers have regained confidence in the coin. MATIC was overvalued at the time of writing. Technical outlook for the coin remained bullish on the four hour chart. The altcoin has continued to form higher highs which are an indication of bullish strength on the chart. If the bulls keep up the present price momentum, MATIC will soon revisit the dollar mark.

MATIC Price Analysis: Four Hour Chart MATIC was priced at $0.903 on the four hour chart | Source: MATICUSD on TradingView

The altcoin was trading at $0.903 on the four hour chart. MATIC was very close to revisiting $1.00. If buyers keep up the momentum, MATIC will continue to soar upwards. Overhead resistance for the coin stood at $1.00.

In case of a pullback, the closest support level for MATIC was at $0.77, below which stood the $0.68 mark. The altcoin has maintained an upward trajectory (yellow line) painting bullish picture on the chart. Amount of MATIC traded increased over the last few days and that is indicative of mounting bullish strength.

Technical Analysis MATIC was overbought on the four hour chart | Source: MATICUSD on TradingView

With increased buying momentum, the asset registered surplus buying strength. The indicators depicted the same on the four hour chart. The Relative Strength Index over the past few days have visited the overvalued zone.

At press time, RSI was in the overbought zone. Usually a pullback occurs when the asset visits the overbought zone. The price of MATIC was also way above the 20-SMA line which is suggestive of buyers driving the price momentum in the market.

Price above the 50-SMA and 200-SMA is considered to be sign of heavy bullishness.

Related Reading | Bitcoin Breaks Above Realized Price Again, Bottom Finally In?

MATIC displayed buy signal on the four hour chart | Source: MATICUSD on TradingView

The altcoin flashed buy signals on the chart which the other indicators have taken into account. Awesome Oscillator indicates the price direction and changes in trends. AO pictured tall green signal bars as the coin turned green which were also buy signals.

Parabolic SAR depicts market momentum of a crypto, dots below the price always indicates upward price momentum. For MATIC to maintain the momentum, the coin has to cut through the $1.00 mark and maintain substantial buying strength. Broader market support also remains vital.

Related Reading | Liquidations Cross $230 Million As Ethereum Barrels Past $1,400

Featured image from Forbes.com, chart from TradingView.com

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matic price asset gains trendline upward path

Источник: newsbtc.com

matic price → Результатов: 126


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This is a two-faced article, where the first part takes a deep look at what is the project and who is behind it. Second part is our Matic price prediction 2020 and beyond. Matic Network strives to solve the notorious scalability and usability issues of Ethereum blockchain and blockchains in general, while not compromising on […] The post What is Matic Network? MATIC Price Prediction 2021 appeared first on CaptainAltcoin.

2021-9-24 14:44


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After the massive December 10 price decrease, MATIC has struggled to approach its previous highs. We believe it will gradually increase but will be devoid of significant volatility. Even though MATIC decreased by more than 50 percent since its early December highs, it is still following a gradual upward trend since August — which is […] The post Will the MATIC Price Make a Comeback? [Premium Analysis] appeared first on BeInCrypto.

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