MATIC – ALTCOIN CHART ANALYSIS

Matic (Polygon) was not spared from the sell-off, but seems to be able to stabilize now. We are currently trading at around USD 0.44 and thus above the monthly support S1.

This has not yet been tested, as we received large buying impulses shortly before and significantly increasing trading volume. Now we seem to be able to achieve a small turnaround, at least in the short term.

In addition, we have developed a bullish divergence in the 4H chart. This could at least bring us to around USD 0.50, as this is where the next resistance lies.

On the daily chart we see a very interesting constellation, because here we have filled the last inefficiency left from April 2021. This has now been filled exactly to the dollar.

This is a good and important sign as this is how the market has brought liquidity to this zone. At the same time, we have formed a bullish divergence in the RSI on the daily chart.

However, this does not have to break out immediately, but should only unfold its strength after a minor consolidation. On the daily chart we even have room to go up to around 0.60 as there is no significant resistance in between.

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