Main levels of support: 1.4 USD
Key Resistance Levels: $1.8, $2
Over the past two days, MATIC recorded a 20% price increase after finding support at the $1.4 level. The key resistance at $1.8 kept the price from rising, and today the MATIC is rapidly approaching this level. If he manages to maintain momentum, a successful break can take him to $2.
Technical Indicators
Trading Volume: Despite this most recent increase in price, the volume on green days has been much lower compared to the selloff from last week.
IRS: The daily RSI is rising rapidly after dropping into the oversold zone last week. It has also formed a bullish divergence which now appears to be confirmed as the price rises.
MACD: The daily MACD remains bearish, but the moving averages and histogram are both curving up fast. Bulls need to show resilience and move through the resistance levels, otherwise, it is unlikely for MACD to do a bullish crossover.
bias
The bias for MATIC is currently neutral.
Short-Term Price Prediction for MATIC
MATIC testing the $1.8 level again seems like an option with a relatively high probability. Once there, the strength of this bullish momentum will be put to the test. Any failure is likely to quickly translate into a pullback towards the key support.
