- Matic crypto price breaks above all the resistances and is now gearing up for $2.0
- The MATIC/BTC pair was trading at 0.00003637 BTC with a 57.40% increase
- The 24-hour volume in Matic is positive by 161% at $4,845,640,736
The 4-hour technical chart of MATIC crypto price action pierced above all the resistance and now is trading at $1.80. According to pivot points, MATIC’s critical support level is $0.80. Moreover, if it moves upside, the crucial resistance to watch is $2.0. Besides, the chart also features a bullish engulfing candle with a wick showing a definite bullish trend with high reliability.
The Exponential Moving Average (EMA), concerning EMA 20 & 50, acts as solid support in the coin’s price. EMA 20 is floating overhead the EMA-50 line, intimating bullish momentum. Investors may notice the price is also way above the EMA. So until the price remains above both EMA, it will ensure Polygon’s positive rate.
The CCI indicator (Overbought) with the value of 290 indicates an overbought scenario in the coin. The CCI line booms up from 100 to 290 on intraday sessions under heavy buying pressure. It may cool down in short-term trading sessions.
The volume of (912.99K) showcases below the Volume MA (1.35M) of 20-days. The investors in MATIC will now book profits in the order book, resulting in the short-term fall in MATIC. Investors may also observe enormous volume bars in the chart.
The Parabolic SAR indicates a buy signal on April 26. Until now, investors may observe no sell call within the chart. Hence the bull rally will continue in Polygon for future trading sessions.
Polygon (MATIC) Crypto Goes Against Overall Market Sentiments
Moreover, the MATIC crypto price was trading at $1.80 with 50% positive daily and 125% positive returns in the weekly period. Technically, the price action is in favor of bulls and can break the resistance of $2.0. The EMA lines are floating in a positive direction, CCI is indicating a positive trend. Parabolic SAR also presents a buy signal. With overall market sentiments, the price may hit above the resistance of $2.0 in future trading sessions, giving up to 10% returns to the investors in the short term.
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