- MATIC’s price has continued to climb, with a 3.36% increase in the last day.
- MATIC has surpassed BTC and ETH with a 1.92% and 1.90% increase, respectively.
- MATIC’s price is at a critical juncture, with a favorable trend line.
According to CoinMarketCap, Polygon (MATIC) has maintained its upward momentum over the past 24 hours, with its price continuing to climb. As of press time, the Layer-2 cryptocurrency is trading at $0.9204, representing a 3.36% increase in the last day. This impressive performance adds to the altcoin’s already impressive weekly gain of +6.12%.
In the past 24 hours, MATIC has demonstrated impressive performance, surpassing the two leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH). The altcoin has recorded a remarkable increase of 1.92% against BTC and 1.90% against ETH. Although MATIC has slightly retreated from its daily peak of $0.9514, it still maintains a strong position in the market. Its 24-hour low currently stands at $0.8935.
The price of MATIC is at a critical juncture, with its 4-hour chart indicating a favorable trend line. However, any breach of this line could result in a decline in the value of this altcoin, leading it to the subsequent crucial support level of $0.89672.
Should MATIC’s price sustain above the trend line in the next 24 hours, it will successfully convert the nearest resistance level at $0.94186 into a supportive one. However, traders must remain vigilant as the RSI is on the brink of signaling a bearish trend, with the RSI line poised to dip below the RSI SMA line.
If the RSI line dips below the RSI SMA line on the 4-hour chart in the next 24 hours, MATIC’s value may fall below the previously mentioned $0.89672 within the subsequent 48 hours. This would leave the cryptocurrency without protective backing, making it vulnerable to a potential drop towards $0.84395. It is important to remain vigilant and monitor these indicators closely.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
