- MATIC Coin price getting strong dynamic support from the 20-day EMA
- The MATIC/BTC pair was trading at 0.0005653 BTC with a gain of 10.64%
- The 24 hr trading volume in MATIC is $1.23 Billion
The bull rally for MATIC Coin was rejected by strong resistance at the $1.5 mark, projected by a shooting Star candle pattern. However, after a slight pullback to $1.3 support, MATIC Coin returned to the overhead resistance by forming a bullish morning. Therefore, now the MATIC coin has another chance to break out from the overhead resistance, providing the traders an excellent long opportunity.
According to the EMA’s, the MATIC Coin is in a solid bullish trend as the price is moving higher than the crucial EMA’s of 20, 50, 100, and 200. Moreover, the chart also shows the 20 EMA is providing strong dynamic support to the price.
The RSI (BULLISH) value is at 66, indicating a bullish sentiment in the coin.
MATIC Coin Shows A Steady Uptrend In The 4hr Time Frame Chart
A reliable ascending trendline is leading the bullish rally in MATIC Coin. The MATIC traders will find this support trendline very useful as it provides multiple long entry opportunities during the uptrend. Moreover, this ascending trendline could also help the price breakthrough overhead resistance, holding an excellent long trade for its traders.
The MACD indicator (BULLISH), as both the MACD and the signal line are back above the neutral (0.00), indicates a bullish momentum for the MATIC Coin. Moreover, the indicator also shows strong rising green bars on the histogram chart.
Conclusion: From the technical perspective, the current trend of MATIC Coin is bullish. Moreover, the MATIC/USD chart provides some excellent trading opportunities for market participants as the price continues to climb higher in an upward trend. Furthermore, the coin showcased an attempt to break out from the $1.5 resistance and could provide the nearest target of around $1.7 if it manages to sustain above this level.
Support– $1.5, $1.3
Resistance– $1.7