Polygon, MATIC is declining since Dec 8, after attaining a high of $2.57. Of course, this is below the all-time high price of $2.70, having a validation of $2.43 resistance levels.
Currently, MATIC is still trading above an ascending support line in play since late July. Also, the The ensuing bounce places it at $2.16, which is just 25% below the current all-time high.
Additionally, technical indicators are all relatively bullish on MATIC
Notably, The MACD, created by short and long-term moving averages (MA) is positive and moving upwards. Also, This shows the short-term MA is moving faster than the long-term average.
Furthermore, The RSI, a momentum indicator, is growing above 50, indicating bullish trends.
More so, Once MATIC breaks out from the $2.43 resistance area. Then, the next resistance levels will be at $3.25 and $3.96. Of course, These are the 1.27 and 1.61 external Fib retracement resistance levels, respectively.
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