Rally

Polygon

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/matic-price-analysis-with-a-buyers-barricade-at-0-52-will-matic-bounceback/">MATIC Price Analysis: With A Buyer’s Barricade At $0.52, Will MATIC Bounceback?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Dropping to a Year-to-Date move of 25%, the <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/" rel="noopener noreferrer nofollow">MATIC price </a>is trading at a 64% discount from the 2023 high of $1.56. Avoiding a new bottom formation in 2023, Polygon finds a bullish barricade at $0.52, avoiding a drop to $0.50.</p> 
<p>The demand belt forming at $0.52 helps in a double bottom reversal with a neckline at the $0.62 resistance zone. Moreover, the recovery rally challenges the short-coming downtrend.&nbsp;&nbsp;</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="487" src="https://image.coinpedia.org/wp-content/uploads/2023/09/05124354/MATICUSD_2023-09-05_11-27-15-1024x487.png" alt="" class="wp-image-227389" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/05124354/MATICUSD_2023-09-05_11-27-15-1024x487.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/05124354/MATICUSD_2023-09-05_11-27-15-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/05124354/MATICUSD_2023-09-05_11-27-15-768x365.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/05124354/MATICUSD_2023-09-05_11-27-15-1536x730.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/05124354/MATICUSD_2023-09-05_11-27-15-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/05124354/MATICUSD_2023-09-05_11-27-15.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p>The MATIC price action forms a morning star pattern at $0.52 and jumps by 2.59% to challenge the new-born resistance trendline. Moreover, the increasing lower price rejection candle at the $0.52 mark increases the breakout chances.&nbsp;</p> 
<h2 id="matic-price-teases-a-new-breakout-rally" data-name="matic-price-teases-a-new-breakout-rally" class="wp-block-heading">MATIC Price Teases A New Breakout Rally</h2> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="487" src="https://image.coinpedia.org/wp-content/uploads/2023/09/05124403/MATICUSD_2023-09-05_11-26-40-1024x487.png" alt="" class="wp-image-227390" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/05124403/MATICUSD_2023-09-05_11-26-40-1024x487.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/05124403/MATICUSD_2023-09-05_11-26-40-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/05124403/MATICUSD_2023-09-05_11-26-40-768x365.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/05124403/MATICUSD_2023-09-05_11-26-40-1536x730.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/05124403/MATICUSD_2023-09-05_11-26-40-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/05124403/MATICUSD_2023-09-05_11-26-40.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p>With a solid resistance trendline, prominent in the 4-hour chart, the MATIC price action displays a descending triangle shadow. Moreover, the price action displays a rounding reversal, challenging the 50 EMA and the resistance trendline.&nbsp;</p> 
<p>On the other hand, the MACD and RSI indicators are in sync with the recovery rally. The indicators are bullish, with a positive crossover in the MACD and the rising RSI line approaching the overbought boundary.&nbsp;</p> 
<p>With a trendline breakout, the MATIC price can tap into the trapped momentum and reach the $0.60 mark. On an even more positive note, the $0.60 breakout can trigger a significant reversal in the MATIC price trend to reach $0.80.</p> 
<p>On the flip side, the reversal will danger the $0.52 bullish barricade and might result in a drop below $0.50. The breakdown rally might potentially find support at the bottom levels of $0.48 and $0.45.<span id="docs-internal-guid-72beeb56-7fff-d283-338d-7bbca806e199"></span></p> 
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MATIC Price Analysis: With A Buyer’s Barricade At $0.52, Will MATIC Bounceback?

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