Polygon

MATIC is the native utility token of the<a href="https://www.newsbtc.com/news/company/polygon-fails-to-break-the-1-mark-thorchain-bullish-price-outlook-as-kangamoon-kang-yields-290-roi/" target="_blank" rel="noopener "> Polygon </a>blockchain and it is currently ranked 18th by market cap, with a total supply of 10 billion MATIC and a total trading volume of over $204 million in the last 24 hours. It has been moving upward since its last rejection at a $0.6342 support level.&nbsp;&nbsp; 
Following the recent bullish trend of the crypto market, MATIC has not been left behind as the price has been on an uptrend with very strong momentum for a while now. Since its last rejection point, MATIC has seen a price reversal of over 10%. 
<h2 id="strong-technical-indicators-point-toward-sustained-uptrend-for-matic-strong">Technical Indicators Point Toward Sustained Uptrend For MATIC</h2> 
To figure out where MATIC’s price might be headed next, several indicators can be used to examine the chart; 
1-Day MACD: A technical look at the MACD indicator from the 4-hour timeframe, the MACD histograms are trending above the zero line, and both the MACD line and the Signal line have crossed and are heading towards the MACD zero line, indicating a bullish trend. 
<img loading="lazy" decoding="async" class="size-medium wp-image-606573 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM.jpeg?w=460&amp;resize=460%2C267" alt="MATIC" width="460" height="267" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM.jpeg?w=1439 1439w, https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM.jpeg?w=460&amp;resize=460%2C267 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM.jpeg?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM.jpeg?w=1140 1140w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
1-Day RSI: the formation of the Relative Strength Index (RSI) in the above image also suggests an upward movement as the RSI signal line is seen moving toward the 50% level. This indicates that buyers are gradually becoming active in the market therefore overpowering the strength of sellers. 
4-hour Alligator: A look at the alligator indicator from the 4-hour time frame shows that the crypto asset is trading above the alligator lines as the alligator lip and teeth have both successfully crossed above the alligator jaw, suggesting that the price might continue to move in an <a href="https://www.newsbtc.com/matic/incoming-matic-surge-analyst-predicts-15-price-target/" target="_blank" rel="noopener ">upward direction</a>. 
<img loading="lazy" decoding="async" class="size-medium wp-image-606575 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM-1.jpeg?w=460&amp;resize=460%2C267" alt="MATIC" width="460" height="267" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM-1.jpeg?w=1439 1439w, https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM-1.jpeg?w=460&amp;resize=460%2C267 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM-1.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM-1.jpeg?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM-1.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-04-at-12.17.49-PM-1.jpeg?w=1140 1140w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<h2 id="strong-potential-price-movement-strong">Potential Price Movement</h2> 
From the previous downward movement, the price of MATIC has managed to create one major resistance level of $0.7365 and one major support level of $0.6324. Currently, MATIC is moving toward this resistance level and if it breaks above this level, it might go even further to test the next resistance level of $0.7680.&nbsp; 
However, if it fails to break above this major resistance, it will reverse and start a downward movement toward its previous support. Also, if it manages to break below this support level, the price might move further downward thereby continuing on its downtrend. As of the time of writing the price of <a href="https://www.newsbtc.com/news/is-matic-poised-for-takeoff-key-area-breaks-records-fueling-bullish-outlook/" target="_blank" rel="noopener ">MATIC</a> was trading around $0.7253 and about -0.94% down in the last 24 hour 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/fGHi13ny/" alt="MATIC" width="2283" height="1265">

MATIC Bullish Signals Abound: Technical Indicators Hint At Sustained Uptrend

目次

NewsBTC

2024年5月4日公開の他の記事

Internet Computer (ICP) Price Declines by 2.3%: Is It Heading to Zero or Will GambleFi Token Spar...

Crypto Presale Billion Dollar Jackpot vs Altcoins Render and Filecoin, Which Is The Best 10x Crypto?

Polkadot Records Strong Growth in Early 2024

$BTC Dominance Shows Signs of Slowing as Alts Spring to Life

Ethereum Bounces Back Strongly After $2,871 Support Rejection

The BEFE Coin Buzz: What Makes It The MEME Coin For Riches

ニュースレターを購読して暗号資産の最新情報を毎日入手！