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MATIC: Approaching Support
Polygon (MATIC) technical analysis:
Trade setup: Price was rejected at $1.60 resistance and pulled back near $1.00 support, which could be an attractive swing entry. Momentum is inflecting bullish again (MACD Histogram rising).
Trend: Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on 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 $1.60.
Trade setup: Price was rejected at $1.60 resistance and pulled back near $1.00 support, which could be an attractive swing entry. Momentum is inflecting bullish again (MACD Histogram rising).
Trend: Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on 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 $1.60.
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