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<p>The post <a href="https://coinpedia.org/price-analysis/breakout-alert-matic-price-prediction-for-august-21/">Breakout Alert! MATIC Price Prediction for August 21</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Today, Matic Network (MATIC) has gained everyone’s attention due to its significant price surge and recent bullish breakout. However, MATIC’s bullish outlook comes at a time when top cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH), have been struggling to gain momentum.</p> 
<h2 class="wp-block-heading" id="h-bullish-breakout-in-matic"><strong>Bullish Breakout in MATIC</strong></h2> 
<p>This bullish breakout comes after months of continuous downside momentum from March to August 2024. During this period, MATIC formed a descending trendline and faced strong resistance from it. However, this time with significant volume, it has successfully broken out the barrier.</p> 
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/08/21191301/mmkoko.png"><img decoding="async" width="1024" height="452" src="https://image.coinpedia.org/wp-content/uploads/2024/08/21191301/mmkoko-1024x452.png" alt="" class="wp-image-341170" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/21191301/mmkoko-1024x452.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/21191301/mmkoko-300x132.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/21191301/mmkoko-768x339.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/21191301/mmkoko-1536x678.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/21191301/mmkoko-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/21191301/mmkoko.png 1814w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure> 
<h2 class="wp-block-heading" id="h-matic-price-prediction-for-august-nbsp"><strong>MATIC Price Prediction for August&nbsp;</strong></h2> 
<p>According to expert technical analysis, <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/">MATIC</a> looks bullish despite trading below the 200 Exponential Moving Average (EMA) on a daily time frame. In addition to this breakout, the daily candle closing above the trendline will be crucial.</p> 
<p>If MATIC closes a daily candle above the $0.48 level, there is a high possibility it could skyrocket over 50% to the $0.75 level or even more.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-bullish-outlook-from-on-chain-data"><strong>Bullish Outlook from On-chain Data</strong></h2> 
<p>With this breakout, MATIC’s open interest has increased by over 19% in the last 24 hours and has been gradually rising. This increase in open interest indicates a growing interest from investors and traders, according to the on-chain analytic firm CoinGlass.</p> 
<p>However, while examining the MATIC exchange liquidation map, it was observed that in the last 7 days, bulls’ long positions are significantly higher compared to short positions. This massive long leverage position indicates a bullish signal for MATIC.</p> 
<h2 class="wp-block-heading" id="h-major-liquidation-levels"><strong>Major Liquidation levels</strong></h2> 
<p>As of now, the two <a href="https://www.coinglass.com/pro/futures/LiquidationMap" target="_blank" rel="noreferrer noopener nofollow">major liquidation </a>levels are near $0.464 on the lower side and $0.489 on the higher side, according to CoinGlass data.&nbsp;</p> 
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/08/21191510/jdcjndjn.png"><img decoding="async" width="1024" height="417" src="https://image.coinpedia.org/wp-content/uploads/2024/08/21191510/jdcjndjn-1024x417.png" alt="" class="wp-image-341172" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/21191510/jdcjndjn-1024x417.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/21191510/jdcjndjn-300x122.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/21191510/jdcjndjn-768x312.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/21191510/jdcjndjn-150x61.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/21191510/jdcjndjn.png 1470w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: CoinGlass
 </figcaption>
</figure> 
<p>If the sentiment remains unchanged and the price rises to $0.489, nearly half a million dollars worth of short positions will be liquidated. Conversely, if the sentiment changes and the price falls to $0.464, nearly $2.7 million worth of long positions will be liquidated.</p> 
<h3 class="wp-block-heading" id="h-matic-price-momentum-nbsp"><strong>MATIC Price Momentum&nbsp;</strong></h3> 
<p>At press time, MATIC is trading near $0.48 and has experienced a price surge of over 7.5% in the last 24 hours. Meanwhile, its trading volume has also skyrocketed by 48% during the same period, indicating increased participation from traders.</p>

Breakout Alert! MATIC Price Prediction for August 21

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