Polygon

Reversal

The post <a href="https://coinpedia.org/price-analysis/is-matic-price-volatile-as-ever-new-reversal-signal-20-hike/">Is MATIC Price Volatile As Ever? New Reversal Signal 20% HIKE!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the pullback stage taking a pause above the crucial 50D EMA, the MATIC price trend teases a trend reversal. Further, the recovering Altcoins market improves investors’ confidence in entering Polygon. 
The Polygon price teases a double bottom reversal as the pullback concludes into a sideways shift. Moreover, the rising possibility of a bullish comeback aligns with the <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/">MATIC price prediction</a>, teasing a bullish end for 2023. 
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Source – <a href="https://www.tradingview.com/x/Jon2OLBU/">Tradingview</a> 
With a bullish failure to reach the $1 mark, the MATIC price takes a bearish turn due to the extensive overhead selling pressure. The pullback phase halts at the strong support confluence of $0.72 level and the 50D EMA.&nbsp; 
The sideways stroll at the crucial support that is becoming an area of interest forms a double bottom pattern. Moreover, the last three days marks a positive growth rate for the Polygon token price.&nbsp; 
The MATIC price trend displays a bullish recovery with the support of rising intraday trading volume. Currently the MATIC coin price trades at $0.7612 with an intraday growth of0.46% while forming a Doji candle.&nbsp; 
Technical indicators: 
RSI Indicator: This daily RSI slope shows a bullish divergence present in the double bottom pattern. This increases the possibility of a bullish reversal rally.&nbsp;&nbsp; 
EMA indicator: A golden crossover event between the 50-and-200-day EMA marks a trend reversal for Polygon.&nbsp;&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="h-will-matic-price-regain-1">Will MATIC Price Regain $1?</h2> 
A bullish reversal from $0.72 with a double bottom reversal projects a major shift in bullish trend to reclaim higher Fibonacci levels. As per the trend based Fibonacci levels, the recovery rally shows a potential to reach $1 upon the breakout of $0.82.&nbsp; 
On the flip side, a bullish failure to sustain trend momentum will plunge the prices under $0.72. Further, the downtrend can retest the $0.62 level.

Is MATIC Price Volatile As Ever? New Reversal Signal 20% HIKE!

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