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- The 24 hours trading volume of the token is 490,930,049 and the gain of 30.03% was seen. The live price of MATIC is $0.7877
- The token has shown the pattern of bullish engulfing.
- The RSI oscillator for MATIC shows the OVERSOLD action.
The MATIC has been running well below its 200 days moving average and also below its 50 days moving average. The chart above shows the movement of the token with respect to SMA-20, SMA-50 and SMA-200. SMA-20, the token was unable to touch SMA-200 but SMA-50 was achievable at times. The trendline marked in the chart with labelling 1, 2 and 3 shows the movement of SMA-20 and SMA-50 and it has been analysed that SMA-50 has acted a strong resistance to the coin. 1 trendline shows the sharp fall in MATIC, 2 shows the overcoming of SMA-50 and so the returns were approximately 5-8% in this timeframe.3 trend line shows the sharp fall again and it has been expected to sink below trendline 1.
An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 25.309 and marks the sell action. MA-5, MA-10 and MA-20 show the sell action as well. However, the MATIC at present is all set to buy. Which is expected to show a hike in price in the coming time.
The bull/bear power has the value of -0.1303 and shows the sell action. The high/low marks the neutral action with the value of -0.0724.
The MATIC-BTC pair is trailing at the level of 0.0000252 and the low of 9.52% was seen whereas the MATIC-ETH pair is trailing at the level of 0.0004211 and the low by 7.88% was seen in the last 24 hours. The token has shown the percentage change by 11.18% since yesterday’s open.
The volume/market cap of the token is 0.09856 and its market dominance is 0.39%.
MATIC token rebranding
The token just announced that they are rebranding to POLYGON. POLYGON is a framework and a protocol for connecting ETH compatible blockchain networks and providing scalable solutions to support the Ethereum ecosystem.
Conclusion: The days range for the coin is 0.78290-0.88892 and presently is at 0.7895. The token is expected to sink more so if you wish to purchase this token then wait for one more day and then long it. The returns would be decent. If it crosses its SMA-50 zone then we could see massive returns.
Technical Instruments:
Pivot: 0.82419
R-1: 0.83960
R-2: 0.84912
S-1: 0.80878
S-2: 0.79926
(Note- The unit is USD)
