Resistance

Polygon

<ul> 
 <li>Despite a general bullish trend in the crypto market, Polygon (MATIC) is unable to breach the key resistance level at $0.7425.</li> 
 <li>MATIC has experienced a 6.65% decline in the last 24 hours and a significant 22.01% drop over the last month.</li> 
 <li>The MATIC token faces bearish signals with a “Death Cross” on the 50/200-day EMA and a declining MACD histogram.</li> 
</ul> 
<p>In the midst of a broader bullish wave in the cryptocurrency industry, the <a href="https://thenewscrypto.com/?s=Polygon" target="_blank" rel="noreferrer noopener">Polygon</a> (MATIC) token continues to grapple with breaking through its significant resistance level at $0.7425. This level has proven to be a substantial liquidation point for MATIC, reflecting persistent sell-offs whenever the price approaches this threshold.</p> 
<h2 class="wp-block-heading" id="h-polygon-current-challenges-and-market-corrections"><strong>Polygon Current Challenges and Market Corrections</strong></h2> 
<p>Recently, the MATIC price underwent a correction of 6.65% within the last 24 hours, adding to a broader 22.01% decrease over the past 30 days. These figures are part of a more extensive trend, with the year-to-date returns sitting at a negative 27.43%, underscoring a long-term bearish sentiment among investors toward this particular altcoin.</p> 
<p>The MATIC token showed promising price activity earlier this year, surging 85.85% from $0.6941 to $1.2900 by mid-March. However, as volatility persisted across the crypto market, this momentum waned, and the token faced significant rejections at higher levels, resulting in a sharp 50.96% correction in its valuation.</p> 
<p>Technical indicators paint a challenging picture for MATIC. The token is currently caught between a narrow trading range of $0.6325 and $0.7425, reflecting a growing disinterest among investors.</p> 
<p>The Cross EMA 50/200-day has also signaled a “Death Cross,” suggesting bearish sentiment in the near term. Moreover, the MACD indicates a consistent decline in the green histogram, reflecting weak buying and selling pressure, which points to uncertainty in future price movements.</p> 
<h2 class="wp-block-heading" id="h-potential-price-directions-for-matic"><strong>Potential Price Directions for MATIC</strong></h2> 
<p>Looking ahead, if market conditions can drive Polygon’s price above the crucial $0.7425 resistance level, there could be a resurgence of bullish momentum, potentially pushing the price towards the upper resistance of $0.860 in the coming weeks.</p> 
<p>Conversely, if bearish pressures prevail, MATIC may continue to struggle under this influence and could soon retest its critical support level at $0.6325, signaling ongoing challenges for the token in the crypto market landscape.</p>

Polygon Confronts Stubborn Resistance Amid Market Volatility: Will MATIC Plunge?

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TheNewsCrypto

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