{"id":50746,"date":"2023-05-26T10:42:35","date_gmt":"2023-05-26T14:42:35","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=50746"},"modified":"2023-05-26T10:45:11","modified_gmt":"2023-05-26T14:45:11","slug":"matic-signals-bullish-trend-after-resistance-break","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/matic-signals-bullish-trend-after-resistance-break\/","title":{"rendered":"MATIC Signals Bullish Trend After Resistance Break"},"content":{"rendered":"\n

MATIC, the native token of Polygon<\/a>, has recovered from its recent decline and surpassed important resistance levels, indicating a possible bullish trend.<\/p>\n\n\n\n

\"MATIC<\/figure>\n\n\n\n

MATIC,\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> a scaling solution for Ethereum, has shown signs of recovery after a period of decline. The price of MATIC has risen above key resistance levels, hinting at a potential bullish trend.<\/p>\n\n\n\n

Over the last few days, MATIC's price has dropped significantly below the $1.00 threshold. The price dipped below the crucial $0.900 support level, entering a bearish zone. <\/p>\n\n\n\n

However, the situation has changed as a recovery surge is gaining momentum, mirroring the movements of popular cryptocurrencies like Bitcoin<\/a> and Ethereum.<\/a><\/p>\n\n\n\n

One positive development is the break above a significant bearish trend line, which held resistance near $0.880 on the 4-hour MATIC\/USD chart. <\/p>\n\n\n\n

\"\"
Source: <\/a>Coinmarketcap<\/use><\/svg><\/span><\/a><\/em><\/figcaption><\/figure>\n\n\n\n

This development indicates a potential shift in momentum. Furthermore, the price surpassed the 23.6% Fibonacci retracement level,<\/a> calculated from the downward move between the $1.017 swing high and the $0.8206 low.<\/p>\n\n\n\n

Potential Hurdles and Opportunities<\/h3>\n\n\n\n

MATIC is currently trading above $0.85<\/strong> and well-positioned above the 100 simple moving average (4 hours). The next challenge lies at the $0.90 resistance zone. If the price manages to overcome this hurdle, it could continue its recovery trajectory. <\/p>\n\n\n\n

A significant resistance awaits at $0.95,<\/strong> marked by the 61.8%<\/strong> Fibonacci retracement level.<\/p>\n\n\n\n

However, if the price fails to surpass the $0.90<\/strong> resistance level, it could face a fresh round of selling pressure. Immediate support awaits at $0.88,<\/strong> with the primary support at $0.865. <\/strong><\/p>\n\n\n\n

A breach below this level may open the doors for further decline, potentially leading the price toward $0.82<\/strong>. The subsequent primary support level sits at $0.80.<\/strong><\/p>\n\n\n\n

MATIC's recent price movements have demonstrated a recovery attempt after a period of decline. The successful break above resistance levels and the emergence of a bullish trend line provide hope for further upside potential.<\/p>\n\n\n\n

Many decentralized applications (dApps) are attracted to Polygon because of its scalability and interoperability. Aavegotchi,<\/a> Decentraland<\/a>, QuickSwap, <\/a>and SushiSwap<\/a> are well-known dApps that run on Polygon.<\/p>\n","protected":false},"excerpt":{"rendered":"

MATIC, the native token of Polygon, has recovered from its recent decline and surpassed important resistance levels, indicating a possible bullish trend. MATIC, a scaling solution for Ethereum, has shown signs of recovery after a period of decline. The price of MATIC has risen above key resistance levels, hinting at a potential bullish trend. Over […]<\/p>\n","protected":false},"author":44,"featured_media":50748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[5392,1075,191,395,849,644],"class_list":["post-50746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","tag-cryptocurrency-2","tag-bullish","tag-matic","tag-polygon","tag-price-analysis","tag-resistance"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/05\/matic-coin.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/50746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=50746"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/50746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/50748"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=50746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=50746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=50746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}