Polygon

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/matic-price-analysis-buyers-at-0-50-eyes-a-jump-to-0-75/">MATIC Price Analysis: Buyers At $0.50 Eyes A Jump To $0.75!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Descending for most of 2023, the <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/">MATIC price</a> loses the new year gains, leading to a 67% drop in the last 8 months. In addition to the downfall, the Polygon coin price action forms a bear channel in the daily chart.&nbsp; 
Breaking multiple support levels, the downtrend rally finds a solid footing at the psychological mark of $0.50. 
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Continuing the trend of making lower high formations in the daily chart, the MATIC price remains under extreme bearish pressure. Moreover, it leads to a strong resistance trendline in motion.&nbsp; 
Currently, with the help of strong demand at $0.50, absorbing the incoming supply, the Polygon coin price is challenging the trendline. Trading in a narrow range between the trendline and the $0.50 mark, the price action teases a sharp breakout move shortly. 
As of now, the MATIC price is trading at $0.5203, with a growth of 1.15% over the last 24 hours, creating a bullish candle.&nbsp; 
Technical indicators: 
MACD indicator: The MACD and signal lines avoid a negative crossover with the recent spike in MATIC price. Moreover, the resurfacing bullish histograms add extra points to the bullish breakout possibility.&nbsp; 
RSI indicator: The daily RSI line maintains above the 14-day SMA but struggles to surface above the halfway line. Moreover, the bullish divergence arises in the daily RSI.&nbsp; 
<h2 class="wp-block-heading" id="h-will-matic-price-sustain-above-0-50">Will MATIC Price Sustain Above $0.50?</h2> 
Considering the ongoing trend, the chances of downtrend continuation are substantial in MATIC price. However, the solid support found at the psychological mark of $0.50 holds the fort. Currently, the altcoin breaking the trendline or the $0.50 mark in a no trade zone will signal an entry spot. 
The bullish breakout will surge the Polygon coin price higher to the $0.74 mark close to the 200-day EMA. On the flip side, if altcoin slides under $0.50, then it will plunge to $0.40.

MATIC Price Analysis: Buyers At $0.50 Eyes A Jump To $0.75!

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