Should you buy Matic on this bullish indication?

Polygon Network (MATIC/USD) is one of the strongest coins, hitting a new all-time high in early December despite falling markets overall. Matic has been in a corrective move for quite some time and it might finally be time for a strong reversal. MATIC is used to run the Polygon network and serves as a utility token for Polygon. It acts as the network's main transaction currency and as a financial incentive for those who want to contribute to the ecosystem. Matic's fundamentals are excellent and there is still plenty of room for growth, so investors can take this opportunity to buy the dip on Matic.

Matic has fallen sharply during this correction, down over 30% this month, and it may now be time for a trend reversal. Matic has been trading in a very tight range for the last week. It looks like there might be a big move coming soon. The bulls could return very soon as Matic is oversold and once a strong reversal occurs, Matic could make a new all-time high. So should you buy the dip from Matic?

After falling over 30% this month, Matic has formed a base at support in the $1.5 zone and it looks like generating momentum for a strong breakout.

A bullish RSI divergence is seen, which suggests a strong breakout is imminent, allowing investors to get in once Matic surpasses the resistance at $1.8.

However, investors need to be cautious and wait for a clear breakout as a breakout could be seen on either side and an entry above $1.8 should be considered.

Investors can set a target of $2.2, followed by $2.6.

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