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<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.</i></p>
<ul>
 <li><em>MATIC could see a bounce towards $0.9</em></li>
 <li><em>A breakout past the range highs is not yet in sight though</em></li>
</ul>
<p><a href="https://ambcrypto.com/search/matic" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">MATIC</a> has noted heavy losses over the past three days. Its price dropped from $0.945 to $0.811, a move that measured 14.21%. It was trading near the middle of a range, a zone that usually offers an unfeasible risk-to-reward trade for both bulls and bears.</p>
<p>The short-term trend for <a href="https://ambcrypto.com/search/bitcoin" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin [BTC]</a> was pointing south after Monday’s losses, but the $42.3k-level could change this outlook. Previously, <a href="https://ambcrypto.com/a-look-at-matics-dropping-price-as-network-activity-goes-high/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">AMBCrypto</a> had reported that MATIC witnessed a spike in network activity.</p>
<h3 id="matic-saw-rejection-at-0-93-just-like-it-did-a-month-ago">MATIC saw rejection at $0.93, just like it did a month ago</h3>
<div id="attachment_358369" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-price.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-358369" decoding="async" class="wp-image-358369 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-price.png" alt="MATIC trades within a month-long range, short-term bias shifts bearish" width="1940" height="1099" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-price.png 1940w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-price-300x170.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-price-1024x580.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-price-768x435.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-price-1536x870.png 1536w" sizes="(max-width: 1940px) 100vw, 1940px"></a>
 <p id="caption-attachment-358369" class="wp-caption-text">Source: MATIC/USDT on TradingView</p>
</div>
<p>The range formation in question was highlighted in yellow on the 4-hour MATIC price chart. It stretched from $0.72 to $0.962, with the mid-range level at $0.841. Over the past month, the mid-range level has been important. For instance, the early December rally saw multiple rejections from the $0.84-zone, finally overcoming it on 8 December.</p>
<p>At the time of writing, the four-hour market structure was bearish. Moreover, an H4 session close below the mid-range mark happened a few hours before press time. The RSI also slipped under the neutral 50-mark to signal a shift in momentum.</p>
<p>Together, they highlighted a bearish bias for the next 24-48 hours. The On-Balance Volume has receded over the past four days. In contrast, the Chaikin Money Flow continued to move above +0.05 to denote significant capital inflow to MATIC’s market.</p>
<h4>Heavy red tilt of Liquidation Levels Delta could be important for traders</h4>
<div id="attachment_358368" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-hyblock.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-358368" decoding="async" class="wp-image-358368 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-hyblock.png" alt="MATIC trades within a month-long range, short-term bias shifts bearish" width="1866" height="1027" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-hyblock.png 1866w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-hyblock-300x165.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-hyblock-1024x564.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-hyblock-768x423.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-MATIC-hyblock-1536x845.png 1536w" sizes="(max-width: 1866px) 100vw, 1866px"></a>
 <p id="caption-attachment-358368" class="wp-caption-text">Source: <a href="https://hyblockcapital.com/liquidationlevel" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Hyblock</a></p>
</div>
<p>The Cumulative Liq Levels Delta was deep in bearish territory over the past 24 hours. This was a reflection of the state of the market and showed that short-position liquidations outnumbered long positions. In other words, a move higher would hurt more market participants and could yield more liquidity, making a bounce in MATIC prices likely.</p>
<p style="text-align: center;">Read <a href="https://ambcrypto.com/predictions/matic-network-price-prediction" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Polygon’s [MATIC] Price Prediction</a> 2023-24</p>
<p>The $0.87-$0.89 zone had a huge number of liquidation levels and presented an attractive pool of liquidity, according to estimates from Hyblock. According to AMBCrypto, a move north to $0.9 is a likelihood in the coming hours, before a drop in prices. If Bitcoin manages to climb above $42.3k, the chances of a bearish reversal for MATIC would drastically fall in the short term.</p>

MATIC’s price might soon welcome a move north owing to this prediction

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AMBCrypto

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