Bullish summer vibes in MATIC market!
MATIC is the native utility token of the Polygon blockchain, currently ranked 18th by market cap with a total supply of 10 billion MATIC. The token has seen a total trading volume of over $204 million in the last 24 hours and has been on an uptrend since its last rejection at a $0.6342 support level. The recent bullish trend in the crypto market has also positively impacted MATIC′s price, with strong momentum driving the token′s value upwards.
Technical indicators suggest a sustained uptrend for MATIC, with the MACD indicator showing bullish trends, the RSI signaling an upward movement, and the alligator indicator indicating a potential continuation of the upward price movement. The formation of resistance and support levels at $0.7365 and $0.6324 respectively has provided a clear path for potential price movements. MATIC is currently trading around $0.7253, with a slight decrease of -0.94% in the last 24 hours.
If MATIC breaks above the major resistance level of $0.7365, it may test the next resistance level of $0.7680. However, failure to break above this resistance could lead to a reversal and a downward movement towards the previous support level. Breaking below the support level could further drive the price downward, continuing its downtrend. The article provides insights into potential price movements and advises readers to conduct their own research before making any investment decisions.
The author, Godspower Owie, works for Bitcoinnist and NewsBTC news outlets and describes himself as an explorer who enjoys learning new things, meeting impactful people, and cherishing time with family and loved ones. He emphasizes the importance of chasing dreams rather than illusions and values the meaningful aspects of life. The article serves as an educational resource and does not represent the opinions of NewsBTC on investment decisions.
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