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MATIC: Support Breakout
Polygon (MATIC) technical analysis:
Trade setup: Price broke below the 200-day moving average and $1.00 horizontal support zone, which opens up downside risk to $0.75 support next.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $0.75. The nearest Resistance Zone is $1.00 (previous support), then $1.30.
Trade setup: Price broke below the 200-day moving average and $1.00 horizontal support zone, which opens up downside risk to $0.75 support next.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $0.75. The nearest Resistance Zone is $1.00 (previous support), then $1.30.
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