<em><strong>MATIC price action struggles to maintain a bullish trend to reach the $1 mark. So, should you start booking profits early?</strong></em>

<a href="https://www.cryptoknowmics.com/news/opensea-announced-the-integration-of-polygon-into-its-seaport-protocol/" target="_blank" rel="noopener">Polygon</a> (MATIC) shows a bullish reversal from the $0.75 supply zone, struggling to rise above the $0.90 mark. Moreover, the increased selling pressure warns of an evening star pattern teasing a drop to the $0.75 mark. So, should you consider exiting the bullish position early?
<h3>Key Points:</h3>
<ul>
 	<li>The MATIC price trend reverses from the $0.90 mark.</li>
 	<li>The evening star pattern at $0.90 teases a drop to $0.75.</li>
 	<li>The intraday trading volume in Polygon is $275 million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/q/qTzUZ0Pq.png" alt="MATIC/USD Price Chart" width="1834" height="899" />

Source - <a href="https://www.tradingview.com/x/qTzUZ0Pq/">TradingView</a>
<h2>MATIC Technical Analysis</h2>
The MATIC price shows a bullish reversal from the $0.75 demand zone with a double bottom breakout in late August. The breakout rally reaches the $0.90 mark but faces higher price rejection candles, evident by the long week formation.

Currently, the price action displays the possibility of an evening star pattern forming near the $0.90 mark teasing a potential drop to the demand zone at $0.75. However, the decline in intraday trading volume questions the possibility of a bearish turnaround.

Nonetheless, if the MATIC prices break below the 100-day SMA at $0.85, a downtrend to the $0.75 demand zone seems inevitable. Moreover, an increase in selling pressure at the demand zone can result in downfall to the $0.57 support level.

On a bullish note, an uptrend continuation can reach the supply zone at the psychological mark of $1.0.
<h2>Technical Indicators</h2>
The bullish crossover between the fast and slow lines gains spread with the growth in the bullish histograms. Furthermore, The daily-RSI slope maintains a diagonal uptrend within the nearly oversold overbought zone after crossing above the 14-day average line. Hence the technical indicators keep an optimistic point of view for the upcoming trend in the MATIC price.

Resistance levels - $1 and $1.30

Support levels - $0.75 and $0.57

MATIC Technical Analysis: Early Reversal Endangers Buyers At $0.75

MATIC technical analysis struggles to maintain a bullish trend to reach the $1 mark. So, should you start booking profits early?

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: Early Reversal Endangers Buyers At $0.75

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