A Recent Correction Of MATIC Is Possible

Posted by Somendra Kumar on July 30th, 2022

After surging in market price over the last month, Polygon appears poised for a reversal. Nonetheless, there is a vast area of MATIC resistant and support levels that may aid in price stability. Polygon looks to be prepping for a fix but has yet to breach a critical support cluster. MATIC has been on a tear over the last month. It increased by more than 200 percent, from a minimum of --content--.32 to a peak of --content--.98 on July 18. Given the size of the rally, the token looks to be trading in uptrending. A recent correction of MATIC is possible. To find all the details, register to Cryptoknowmics today. 

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Find the MATIC breakout together with the latest news and updates. MATIC is trading above a major support cluster around --content--.77, which includes the Parabolic SAR and the 78.6 percent Fibonacci retracement signal. A daily candlestick near this crucial interest zone might cause a spike in bearish pressure, perhaps leading to a 22% drop toward the 50-day Moving Average at --content--.58. To invalidate the bearish forecast, MATIC will most likely need to breach the July 18 high of --content--.98. The MATIC INR technical analysis is trending. By breaking past this critical resistance level, it may get the power to go for the 200-day moving average of around .20.