MATIC price seems to be holding above a crucial support level barrier while a particular technical indicator suggests its time to buy.
polygon price presents a buy signal on the 4-hour and 1-day chart.
Low trade volume suggests that an upswing could be difficult to materialize.
The polygon Matic must hold above the 50-day moving average to advance higher.
MATIC price reached close to its ATH back on May 26 and has since been on a consistent downtrend. Within the span of 18 days, the Matic’s price dropped by 41.32%, trading at $1.36 at the time of writing. While Relative Strength Index RSI was at the oversold zone 12 hours ago, it has since climbed back up to the neutral line-level thanks to strong buying pressure.
Bullish momentum could be observed on the Awesome Oscillator in the last 12 hours, with the presence of a green candle under the neutral line at press time. Regardless, Parabolic SAR displayed an active price uptrend as the white dotted line was present underneath the candlesticks.
Positive momentum in the market saved the Matic price from falling below the $1.23 support level and stronger buying cues could move the price further upwards.
0 Comments