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<p>Polygon (MATIC), the popular Layer 2 scaling solution for Ethereum, is positioned at a critical technical juncture, according to crypto trader <a href="https://twitter.com/MtukufuMtukutu/status/1748776728703504821" target="_blank" rel="noreferrer noopener nofollow">teshkid</a>. MATIC is currently testing resistance at $0.78 and needs to break decisively above this level to confirm a bullish trend change.</p> 
<h2 class="wp-block-heading" id="trading-channel-defines-price-action">Trading Channel Defines Price Action</h2> 
<p>MATIC has been range-bound between support at $0.75 and resistance at $0.9. This well-defined trading channel provides opportunities, but the overall chart remains bearish-to-neutral for now.</p> 
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<p>According to analysis by altFINS, a break above channel resistance at $1.00 is needed to “clear the way” for a potential rally back to $1.25. However, MATIC has already failed to overcome $1.00 on three separate occasions in recent weeks.</p> 
<h2 class="wp-block-heading" id="oscillators-suggest-bottoming-process">Oscillators Suggest Bottoming Process</h2> 
<p>Despite the neutral outlook, there are some positive divergences on momentum indicators that often precede trend changes.</p>  
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<p>The key MACD and RSI oscillators recently made higher lows while MATIC put in a matching lower low, marking positive momentum divergence. This tentatively suggests downside momentum is fading.</p> 
<p>If Bitcoin and altcoins can begin sustaining rallies above key technical levels, the tide may finally be turning after months of relentless declines. MATIC breaking above $1.00 would be one confirmation of this macro shift. Cryptocurrency investors seem unceasingly optimistic about signs of hope after enduring last year’s punishing collapse.</p> 
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 <li><a href="https://captainaltcoin.com/why-investors-from-polygon-matic-and-tron-trx-are-buying-into-the-new-pushd-pushd-presale/" target="_blank" rel="noreferrer noopener">Why investors from Polygon (MATIC) and Tron (TRX) are buying into the new Pushd (PUSHD) presale</a></li> 
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<p>The post <a href="https://captainaltcoin.com/polygon-attempts-breakout-above-resistance-analyst-shares-the-possibility-of-matic-breaching-1/">Polygon Attempts Breakout Above Resistance, Analyst Shares The Possibility of MATIC Breaching $1</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Polygon Attempts Breakout Above Resistance, Analyst Shares The Possibility of MATIC Breaching $1

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