Resistance

Polygon

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/matic-faces-resistance-amid-market-fluctuations/" data-wpel-link="internal">MATIC Faces Resistance Amid Market Fluctuations</a><br></p>
<p class="p1" style="text-align: justify">Polygon’s native token <strong><a href="https://en.coin-turk.com/polygon-founders-propose-token-name-change-from-matic-to-pol/" data-wpel-link="internal">MATIC</a></strong> continues to face selling pressure around the psychological resistance level of $0.8300. Last week, MATIC’s market value dropped by 14%, and the selling momentum applied downward pressure on the price. The decline in MATIC’s price has revealed the possibility of a break below the lower support trend line of the rising wedge formation, which indicates a risk of further correction in the MATIC price.</p> 
<h2 class="p1" style="text-align: justify" id="matic-chart-analysis">MATIC Chart Analysis</h2> 
<p class="p1" style="text-align: justify">In the past few days, the Polygon price has been trading between $0.80 and $0.90, with declining and rising trends contradicting each other. This tug-of-war resulted in a narrow trading range with the price balancing both upwards and downwards. At the time of writing, <strong>MATIC</strong> is trading at $0.8402, indicating a potential short-term downtrend. Despite experiencing a drop of over 2.5% in the last 48 hours, MATIC continues to show an overall recovery from its recent lowest level, maintaining a positive outlook for the short term.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-299269 size-full" src="https://coin-turk.com/wp-content/uploads/2024/01/matic-gunluk-grafik.png" alt="" width="1815" height="953"></p> 
<p class="p1" style="text-align: justify">Famous crypto analyst <strong>Ali</strong> shared his optimism with his followers that Polygon could revisit the $0.96 level by the end of January 2024. The increase in buying pressure at current levels could potentially push MATIC to $0.88 and even $0.96. MATIC is particularly regaining interest due to the transition to Polygon 2.0.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-299267" src="https://coin-turk.com/wp-content/uploads/2024/01/ali-tweet.png" alt="" width="550" height="611"></p> 
<h2 class="p1" style="text-align: justify" id="noteworthy-data-for-matic">Noteworthy Data for MATIC</h2> 
<p class="p1" style="text-align: justify"><strong>MATIC’s</strong> price, if it stays above the $0.0800 support level, has the potential to rise to the resistance level of $0.9600. Maintaining this level could lead to the price surpassing $1 in the future. However, if the downward trends continue, the current support level could be broken, and short-term selling pressure could emerge.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-299266 size-full" src="https://coin-turk.com/wp-content/uploads/2024/01/matic-rsi.webp" alt="" width="1154" height="751"></p> 
<p class="p1" style="text-align: justify">Technical indicators from the last 24 hours, with most moving averages and key data giving buy signals, point to the potential for a bull run. The MACD indicates a downturn in momentum as the blue MACD line crosses above the red signal line. The Relative Strength Index (RSI) is at a neutral level of 44.17, indicating market equilibrium. The converging Bollinger Bands suggest a high probability of increased volatility in the coming days.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/matic-faces-resistance-amid-market-fluctuations/" data-wpel-link="internal">MATIC Faces Resistance Amid Market Fluctuations</a></h5>

MATIC Faces Resistance Amid Market Fluctuations

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