Token

Resistance

Polygon

<p>The post <a href="https://coinpedia.org/price-analysis/polygon-token-fails-to-breakout-matic-price-to-drop-15-this-month/">Polygon Token Fails To Breakout! MATIC Price To Drop 15% This Month?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Despite a bullish wave in the crypto industry, the Polygon (MATIC) token continues its struggle to break out of its important resistance level at $0.7425, indicating a strong liquidation point for the MATIC price at that level.</p> 
<p>On the other hand, the Polygon price has recorded a correction of 6.65% within the past 24 hours and 22.01% over the past 30 days. Furthermore, the YTD return of the MATIC token stands at -27.43%, highlighting a long-term bearish sentiment for the altcoin in the crypto market.</p> 
<h2 class="wp-block-heading" id="h-polygon-token-faces-repeated-rejection-at-its-important-resistance-level">Polygon Token Faces Repeated Rejection At Its Important Resistance Level!</h2> 
<p>The <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/">MATIC price</a> displayed a significant price action by adding 85.85% in valuation, from $0.6941 to $1.2900 by mid-March. As the volatility in the crypto market, the bulls lost momentum and faced rejection at their upper level, resulting in this altcoin recording a correction of 50.96% in value.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdDfdFNqol95mes5yYM2tvQZI5RrmzzR4w9v-YMJC2xFf96aE3hpWpebCZoXTWzKmYjVhnS6qCyeWCAOdX42_ewrMpVmiB03lWste_yjEvYZacNYGAZSDeMEbF4NWihLu6FT9E0lVeNOU7t7cFxXgJSaKq1?key=o7K2P_EK1PtQDxPvnUhs1w" alt="MATIC Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: MATIC/USDT
 </figcaption>
</figure> 
<p>Since then, the price has been trading in a closed range between $0.6325 and $0.7425, highlighting the rising disinterest of investors in this altcoin. Moreover, the Cross EMA 50/200-day has recorded a Death Cross, indicating a negative sentiment for the MATIC token this week.</p> 
<p>The technical indicator, MACD, shows a constant decline in the green histogram, indicating weak buying and selling pressure for the <a href="https://markets.coinpedia.org/polygon/">Polygon token</a> in the crypto space. Moreover, the averages display a neutral trend, suggesting uncertainty in future price action.</p> 
<h2 class="wp-block-heading" id="h-will-matic-price-increase">Will MATIC Price Increase?</h2> 
<p>If the market pushes the Polygon price above its important resistance level of $0.7425, the bulls will regain momentum and prepare to test its upper resistance level of $0.860 during the upcoming weeks.</p> 
<p>However, if the bears continue to overpower the bulls, the price will continue trading under a bearish influence and prepare to test its crucial support level of $0.6325 this month.</p>

Polygon Token Fails To Breakout! MATIC Price To Drop 15% This Month?

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