Reversal

Coin

<ul class="news-points"> 
 <li>MATIC faces resistance at $0.5807 but hints at a bullish reversal.</li> 
 <li>Polygon’s trading volume spikes by 16.5% amid price pullback.</li> 
 <li>The upward RSI trend suggests a potential shift to bullish momentum.</li> 
</ul> 
Despite enjoying a promising bull rally at the start of the day, Polygon’s (MATIC) price experienced a pullback after failing to overcome the resistance level at $0.5807. Consequently, the price dipped to an intra-day low of $0.5635 before a modest recovery. MATIC was valued at $0.5687 at press time, showcasing a mild rebound from the day’s low point. 
The dip in price saw MATIC’s market capitalization decline by 1.73% to $5,299,919,552. However, the 24-hour trading volume increased by an impressive 16.50% to $250,372,453, signaling heightened trading activity. 
This price retracement is likely due to profit-taking by investors who capitalized on the earlier bull rally. Yet, the subtle price recovery indicates persistent buying interest in MATIC, suggesting a potential for further price movement. 
<figure class="wp-block-image size-full"> 
 <img decoding="async" width="940" height="725" src="https://coinedition.com/wp-content/uploads/2023/08/image-15.png" alt="MATIC/USD 24-hour price chart (source: CoinMarketCap)" class="wp-image-330473" srcset="https://coinedition.com/wp-content/uploads/2023/08/image-15.png 940w, https://coinedition.com/wp-content/uploads/2023/08/image-15-300x231.png 300w, https://coinedition.com/wp-content/uploads/2023/08/image-15-227x175.png 227w, https://coinedition.com/wp-content/uploads/2023/08/image-15-380x293.png 380w, https://coinedition.com/wp-content/uploads/2023/08/image-15-768x592.png 768w, https://coinedition.com/wp-content/uploads/2023/08/image-15-508x392.png 508w, https://coinedition.com/wp-content/uploads/2023/08/image-15-91x70.png 91w, https://coinedition.com/wp-content/uploads/2023/08/image-15-115x89.png 115w, https://coinedition.com/wp-content/uploads/2023/08/image-15-185x143.png 185w, https://coinedition.com/wp-content/uploads/2023/08/image-15-577x445.png 577w, https://coinedition.com/wp-content/uploads/2023/08/image-15-320x247.png 320w, https://coinedition.com/wp-content/uploads/2023/08/image-15-311x240.png 311w, https://coinedition.com/wp-content/uploads/2023/08/image-15-214x165.png 214w, https://coinedition.com/wp-content/uploads/2023/08/image-15-274x211.png 274w, https://coinedition.com/wp-content/uploads/2023/08/image-15-240x185.png 240w, https://coinedition.com/wp-content/uploads/2023/08/image-15-105x81.png 105w, https://coinedition.com/wp-content/uploads/2023/08/image-15-97x75.png 97w" sizes="(max-width: 940px) 100vw, 940px"> 
 <figcaption class="wp-element-caption">
 MATIC/USD 24-hour price chart (source: <a href="https://coinmarketcap.com/currencies/polygon/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>) 
 </figcaption> 
</figure> 
On the MATICUSD 2-hour price chart, the 20-day moving average (blue) is positioned below the 100-day moving averag… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/technical-indicators-signal-potential-reversal-as-matic-price-rebounds/">Technical Indicators Signal Potential Reversal as MATIC Price Rebounds</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Technical Indicators Signal Potential Reversal as MATIC Price Rebounds

Coin Edition

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