Panjang

MATIC: Approaching Support

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Polygon (MATIC) technical analysis:

Trade setup: Price was rejected at $1.60 resistance and pulled back near $1.00 support (also 200-day MA), which could be an attractive swing entry opportunity. However, trends are mixed, hence, buying it here would be counter-trend and therefore risky.

Trend: Uptrend on Medium-Term basis and Neutral on Short- and Long-Term basis.

Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).

Support and Resistance: Nearest Support Zone is $1.00, then $0.75. The nearest Resistance Zone is $1.30, then $1.55.

Penafian

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