TA: Matic Price Faces Resistance To Break Above The $1 mark?

2022-8-3 23:31

Despite showing great recovery signs from a low of $0.33 with over 80% gains in weeks, Matic price faces strong resistance at $1.

July has been good for most crypto projects, with the price of Matic surging to over 80% gains in just one month, although Matic price faces steep resistance at the $1 mark.

Matic Weekly Chart Analysis

The price of Matic moved from the low of $0.33 to a high of $1 before seeing a rejection to a region of $0.80.

Matic saw a relief bounce when it met its all-time high (ATH) of 2021; this became a good support for Matic to build more buy pressure for a good relief bounce.

Matic Weekly Price Chart Analysis | Source: MATICUSDT On Tradingview.com

From the strong support built around $0.33, Matic has been able to form weak support on the weekly chart at around $0.589.

A pull back on the weekly price of Matic would see us retesting the support region of $0.6 – $0.58.

Major resistance on the weekly chart – $1

Major support on the weekly chart – $0.6, $0.35

Daily Analysis Of Matic Price Matic Daily Chart Analysis As It Struggles To Break $1 Resistance | Source: MATICUSDT On Tradingview.com

The daily chart for Matic price still looks good after being rejected from $1, which corresponds with the 200 EMA. 

Matic is holding up well above the 50 EMA, which is good support on the daily timeframe.

With trend reversal in a low timeframe, bulls could push the price high enough to break the 200 EMA resistance that has been tough to break. A successful break of the resistance at $1.02 could see the price of Matic go high as $1.3.

The volume on the daily chart suggests buyers are still holding on to their position until a complete trend reversal on a higher timeframe.

The relative strength Index (RSI) on the daily chart is at the 60 mark, which is a good sign as there is not much sell pressure on Matic.

If Matic cannot hold the 50 EMA as support, should there be a shift in trend to the downside, the region of $0.6 – $0.589 has been a good support area to allow buyers to drive the price upward.

Daily resistance – $1.02.

Daily support – $0.74, $0.589.

Matic Price On The 4H Chart Matic 4H Chart Analysis After Rejection From 50 EMA | Source: MATICUSDT On Tradingview.com

The price of Matic on the 4H chart shows the price is above the 200 EMA but struggling to break past the 50 EMA acting as resistance for Matic.

Matic needs to break this resistance for bulls to push towards the $1 mark resistance that has proved difficult to break for Matic on the high timeframe.

The volume on the chart shows more buyers stepping in to buy Matic at this level; the bounce across the market for Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies could push the price of Matic high above the current price.

Matic needs to break and close above $0.88, which corresponds with the 50 EMA, to have a better chance of going higher; if Matic fails to break, then a pull back to the next support is expected.

Resistance on the 4H chart – $0.88, $1.

Support on the 4H chart – $0.776, $0.59.

 

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price matic resistance faces gains mark crypto

Источник: newsbtc.com

price matic → Результатов: 126


Polygon Seen Breaching $1 This Week – Can MATIC Start An Uptrend?

Polygon (MATIC) seems to have its vigor back with it potentially breaching $1 in the coming days. Polygon price is seen to generate massive gains at 108% MATIC price shoots close to a critical level that bulls are eyeing to test Set your eye on this critical level to catch the uptrend MATIC price is moving extremely bullish and could squeeze pushing the price above $1 setting the stage for a huge uptrend that could potentially double the coin’s price to $2.

2022-8-17 03:31


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

MATIC Could Target $1.40 If Bullish Momentum Continues

MATIC has seen significant price growth over the last 24 hours, following a period of strong bearish influence in the past week. On the daily chart, the altcoin surged by almost 6%. At present, MATIC is trading above its $1.

MATIC Price Enters Recovery Mode But Can It Touch $0.90?

The MATIC price has remained bearish for most of this month. Presently, MATIC is attempting to correct its price. Over the last 24 hours, the coin is up by 2%. In the past week, however, the coin has depreciated by over 8%.