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The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/polygon-price-analysis-trapped-in-a-triangle-matic-price-are-at-crossroads-0-50-drop-or-0-70-jump/">Polygon Price Analysis: Trapped In A Triangle MATIC Price Are At Crossroads, $0.50 Drop or $0.70 Jump?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Polygon price finally finds a solid footing at $0.53, leading to a short recovery support trendline. Moreover, with hours left for the <a href="https://coinpedia.org/news/bitcoin-etf-news-bitwises-etf-withdrawal-raises-questions-about-sec-scrutiny/" target="_blank" rel="noreferrer noopener">Bitcoin ETF’s</a> SEC deadline, the support levels’ altcoins may find a bullish spike soon.&nbsp; 
As MATIC prices downtrend under the influence of a resistance trendline, the <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/" target="_blank" rel="noreferrer noopener">MATIC price</a> action forms a triangle pattern in the 4-hour chart.&nbsp; 
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 Trading View
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The MATIC price action completes the negative cycle by crashing to the support trendline in the triangle pattern. However, the support trendline holds the MATIC prices and avoids further decline.&nbsp; 
With a positive cycle in order, the <a href="https://coinpedia.org/price-analysis/polygonmatic-price-at-the-crossroads-is-it-a-reversal-or-trend-continuation-pattern/" target="_blank" rel="noreferrer noopener">MATIC coin price may soon rise</a> within the triangle to challenge the overhead trendline. However, the 7.72% drop in the last 48 hours warns of a downtrend continuation in Polygon under $0.50. 
Moving to the technical indicators, the MACD and RSI display a bearish trend in the 4-hour chart. The declining 50 and 200-day EMA also represent a strong bearish sentiment.&nbsp; 
Also Read: <a href="https://coinpedia.org/news/polygon-clo-says-coinbase-vs-sec-case-is-very-far-from-the-decision/" target="_blank" rel="noreferrer noopener">Polygon CLO Says Coinbase vs. SEC Case Is Very Far From the Decision</a> 
<h2 id="will-matic-coin-price-float-above-0-50" data-name="will-matic-coin-price-float-above-0-50" class="wp-block-heading">Will MATIC Coin Price Float Above $0.50?</h2> 
Trapped in a triangle pattern, MATIC coin price coils up trend momentum and prepares for a sharp move upon breakout. Moreover, the ongoing correction warns of a support trendline breakout to break the bullish dominance at $0.50. 
In such a case, the bearish breakdown will plunge the MATIC price to $0.4480 
Optimistically, the MATIC price breakout rally can reach the 50-day EMA close to the $0.70 mark.

Polygon Price Analysis: Trapped In A Triangle MATIC Price Are At Crossroads, $0.50 Drop or $0.70 Jump?

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