MATIC Coin Price Prediction Analysis! Will it Trigger an Upward Movement?

• The price of MATIC may continue its downward trend as long as it remains below $0.727.
• The support zone of $0.6846 – $0.6720 is a critical level where an upward movement can be initiated with strong buying reactions.
• If the price closes above $0.727 on a daily basis, it can strengthen the upward trend and target new resistance levels.

The technical chart of MATIC (Polygon) shows that the price continues its downward trend below the $0.727 level. It is important for investors to closely monitor daily support and resistance levels.

Medium-Term MATIC Price Analysis

Daily MATIC/USD Price Chart

When we examine the technical chart of Matic (MATIC) on a daily time frame, we see that it continues its downward trend. After making daily candle closes above the descending trendline, the MATIC price reached levels of $0.89. Currently, the MATIC price is moving around $0.706.

If MATIC does not make daily candle closes above the mentioned level of $0.762, it can continue its downward movement towards the significant support zone of $0.6547 – $0.6232. However, if it encounters strong buying reactions from this support range, it is expected to initiate the upward trend from these levels again.

If MATIC starts to rise from the support range of $0.6547 – $0.6232, its first target will be the level of $0.8188, and the next target will be $0.9866. However, if the MATIC price makes daily candle closes below the $0.60 level, it has the potential to continue its downward movement towards $0.55.

Short-Term MATIC Price Analysis

When we examine the short-term technical chart of MATIC, it is observed that it continues its downward movement below the important resistance level of $0.727. As long as the MATIC price remains below $0.727, it can continue its downward movement towards the support level of $0.6846.

The significant support zone on the 3-hourly time frame is located at $0.6846 – $0.6720. If MATIC falls into this support range in the coming hours, it may want to initiate the upward trend with strong buying reactions from this level. In this case, the targets for MATIC will be the first level of $0.727 and then $0.78.

However, if the MATIC price does not encounter strong buying reactions from the support range of $0.6846 – $0.6720 and makes 3-hourly candle closes below the $0.67 level, it can continue its downward movement towards $0.6484. Therefore, the importance of buying reactions in the support range of $0.6846 – $0.6720 will play a significant role in determining the trend direction of MATIC. Investors should carefully monitor these support and resistance levels.