MATIC Price Overview
The MATIC price is currently trading above the major exponential moving averages on the daily technical chart, indicating bullish sentiment. Polygon is approaching the $1 level, expected to be achieved soon.
Price Trends and Performance
The native currency of the Polygon network has shown a positive trend, experiencing an 11.34% increase recently and a significant 20.41% growth over the past month. However, the performance over the last six months has seen a decline of approximately 69.77%. The year-to-date slump stands at 2.57%, with a 37.98% drop over the entire year.
Current MATIC Price
As of now, the MATIC crypto price is $0.9473, reflecting a 2.02% gain and emphasizing bullishness on the charts. The trading volume is 373.83 Million, and the market cap is $9.09 Billion. Technical indicators are currently maintaining solid buy signals.
Technical Analysis in 1-D Timeframe
Over the past three months, Polygon (MATIC) has demonstrated a steady upward trajectory, gaining approximately 11.16%. The current bullish momentum suggests a potential surge above the upper level after a recent pullback.
If the MATIC price maintains its current level, it could continue its ascent, aiming for the first and second targets of $1.00 and $1.500. However, a decline may find support at the closest levels of $0.8398 and $0.7872.
Trading Position and Indicators
At present, MATIC crypto is trading below the 50-Day and 200-Day Simple Moving Averages (SMAs), serving as support for the price trend. Increased buying volume could potentially lead to surpassing these supporting SMAs, forming higher highs and lows and indicating an upward movement.
Key Technical Indicators
- Relative Strength Index (RSI): The current RSI value is 65.83 points, suggesting positive momentum.
- 14-Day SMA: Positioned above the median line at 58.24 points, indicating a bearish sentiment for MATIC crypto.
- MACD (Moving Average Convergence Divergence): Exhibits a bullish crossover, with the MACD line at 0.0317 and the signal line at 0.0173, both above the zero line, signaling increased strength for the Polygon crypto price.
Summary
Technical oscillators for MATIC (USD: Polygon) align with the bullish trend. The MACD, RSI, and EMA (Exponential Moving Average) all provide positive indications, suggesting that the upward trend may persist. With sufficient support from buyers, MATIC has the potential to climb even higher.
Key Technical Levels
Support: $0.8398 and $0.7872.
Resistance: $1.00 and $1.500.
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