The MATIC coin price finds a sudden increase in the selling pressure, which questions the credibility of bulls near the $1.5 support zone.

Polygon (previously Matic Network) is the first structured platform that is easy to use to support Ethereum scale and infrastructure development. The core component of the platform is the Polygon SDK, which is a modular, flexible framework that can be used to build various types of applications.

Utilizing Polygon you can make optimistic rollup chains ZK chain rollups, stand-alone chains, or any other type of infra needed by the creator.

Let us move ahead to read about Polygon technical analysis.
<h2>Past Performance of MATIC</h2>
The MATIC coin price fails to break above the 200-day EMA as it falls 9.93% in the past 24 hours, with growth in intraday trading volume. The price faces <a href="https://www.cryptoknowmics.com/news/matic-technical-analysis-price-at-200-day-ema-aims-to-touch-3/">rejection</a> from the 7-day resistance near the $1.70 mark. However, the price sustains above the $1.5 support zone and teases a possible double bottom formation. 

<img src="https://s3.tradingview.com/snapshots/u/U7LtMRcm.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/E0OHU1Vi/">MATIC/USD Daily Chart</a>
<h2>MATIC Technical Analysis</h2>
The MATIC coin price trends closer to the support zone at $1.50 and shows increased trend momentum evident by the sudden reversal. However, the bulls take a last stand to sustain the uptrend.

The crucial Exponential Moving averages show the 50-day EMA on the verge of giving a bearish crossover with the 100-day average. The price retests the 200-day EMA fallout and continues the downtrend.

The DMI indicator shows the DI lines moving away in a bearish formation, reflecting a rise in underlying selling pressure. The ADX line sustains above the 30% mark, suggesting a solid trend momentum.

The Stochastic RSI Indicator shows the K and D lines are on the verge of giving a bearish crossover before reaching the overbought zone. Thus, reflecting a sudden increase of fear in the market.

Therefore, the technical indicators reflect a rise in selling pressure and a possible breakout of the $1.50 support zone. Hence, the MATIC token might soon reach the $1.25 mark.
<h2>Upcoming Trend</h2>
The MATIC coin price is under a sudden bear attack resulting in a downfall of almost 10% in the past 24 hours. The $1.5 support zone remains the last stand to reverse the attack. 

Sellers can find an entry opportunity below the $1.5 support zone with a target of $1.25. However, buyers need to be patient as the bearish trend momentum is on the rise. 

At press time, the technical analysis by TradingView gives a "SELL" signal for the MATIC token.
<div class="tradingview-widget-container">
<div class="tradingview-widget-copyright"><a href="https://www.tradingview.com/symbols/MATICUSD/technicals/" target="_blank" rel="noopener">Technical Analysis for MATICUSD</a></div>
</div>

MATIC Technical Analysis: Bloodshed Soon to Break $1.5 Support Zone

The MATIC coin price finds a sudden increase in the selling pressure which questions the credibility of bulls near the $1.5 support zone.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

MATIC Technical Analysis: Bloodshed Soon to Break $1.5 Support Zone

Top Picks