Polygon (MATIC) Price Breakdown Warns of Lower Prices
Tech Polygon (MATIC) Price Breakdown Warns of Lower Prices 59 segundo ang nakalipas Balita ng Ethereum ng Bitcoin The Polygon (MATIC) price has fallen since an important horizontal resistance area rejected it. Then, the price broke down from a short-term parallel channel. The weekly and daily timeframe readings are both bearish, suggesting that more downside is expected before the price eventually falls. Polygon Price Gets Rejected by Crucial Resistance The technical analysis of the weekly timeframe for MATIC gives a bearish outlook. This is mainly because of the rejection from the $0.80 resistance area and the creation of a long upper wick afterward. The long upper wick was created way above the resistance area. This means that while buyers had the upper hand, sellers took over and took the price below the resistance area again. Therefore, it indicates that the trend is bearish. The fact that the resistance area had previously provided support since July 2022 increases its legitimacy. So, the trend can be considered bearish as long as the price trades below it. Lingguhang Chart ng MATIC/USDT. Pinagmulan: TradingView Additionally, the weekly Relative Strength Index (RSI) signals a bearish sentiment. The RSI, a momentum indicator utilized by traders to gauge if a market is either overbought or oversold, assists