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MATIC technical indicates
Price chart by Tradingview

MATIC technical indicates a possible fakeout in the 2H chart

MATIC technical indicates a possible fakeout of the asymmetrical triangle due to low volume and price has gone below $1.8 despite BTC correction impact. Re-entering triangle will be a highly bullish sign for the token.

MATIC is currently holding the 19th position in the crypto market ranked based on market cap. With a 24h trading volume of more than $640 million, MATIC is up 1.38% in the last 24h period. The 24h trading volume of the Polygon is down by 11% which doesn’t seem a good sign. The market cap of MATIC is $12,902,474,772. MATIC was down due to BTC correction but MATIC technical indicates something very interesting.

 MATIC technical indicates
Price chart by Tradingview

MATIC technical indicates that in the 4H MATIC has made a double bottom:

MATIC technical indicates that in the 4H time frame chart MATIC has made a double bottom and was ready with strong support at $1.80 but the correction of BTC has stopped it from the price bull run for now. It looks like a fakeout of asymmetrical triangle due to low volume in the 2H time frame chart. MATIC technical indicates that if it re-enters the triangle then it would be an extremely bullish sign for the token. Key resistance levels are $1.90 and $2.2.

However, if MATIC fails to enter the triangle again then it would fall and $1.7 price will be key support level for the token. DYOR.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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