The MATIC rally has ended after hitting a new all-time high of $2.9. The price is currently correcting and is fast approaching the $2 mark.
After a great performance towards the $2.9 high, MATIC has lost momentum and is currently correcting towards the key $2 support. The $2.4 level was confirmed as resistance and the price formed a lower spike there.
On the way up, MATIC formed a large bearish wedge (shown in blue on the first chart) and now the price appears to be breaking below the pattern. The cryptocurrency is likely to continue correcting or consolidating over the next few days.
Source: TradingView
RSI: The daily RSI is making lower highs, which is a typical sign of a downtrend. This will likely continue until MATIC finds new support.
MACD: The daily MACD failed to form a bullish cross and fell into negative territory. Support downtrend continuation.
Source: TradingView
MATIC’s current trend is down.
It is currently approaching the $2 support. Losing this level can lead to a quick drop towards $1.8. Price action and technical indicators suggest that a break of this support level is very high.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
After the success of Notcoin, Not Pixel is the latest project that is attracting the…
The Tonhub Visa card was launched, enabling the user to pay directly with his balance…
According to the Greeks.live, there was a significant expiry event this week, as 344,000 BTC…
Dubai, United Arab Emirates, 8th November 2024, Chainwire
Upbit's planned listing includes DRIFT trading pairs for the Korean Won, Bitcoin, and Tether.
Bitcoin Spot ETF Inflows reach $1.376 billion on November 7, with BlackRock ETF IBIT seeing…
This website uses cookies.