Categories: Price Analysis

Matic Network Strengthens in Intraday, but Bearishness Lingers

Matic Network, one of the top 120 cryptos of the global cryptocurrency market, is seen trading at $0.0195 after rising from weekly supports of $0.0139. Over the past year, MATIC has spurred as high as $0.0338 in the earlier quarter and failed to cross above due to stringent resistance at $0.034 and $0.35.

However, the token strengthened in the previous month as well but due to lack of traction, it failed to summon to pre-corona levels as well that MATIC Network had hit in early March and May after strengthening from YTD low.

Moreover, as per MATIC price prediction and historical price movement, the token has managed to stay around $0.019. Matic Network is not one of the old cryptos of the market and has an All-Time High marked at $0.045, but thereafter, the token has faced many resistances at price levels, the major one’s being $0.043 and $0.0337.

Matic Network Price Analysis

MATIC/USD Chart By TradingView

At the press time, MATIC was seen rising from the weekly bottoms after breaching the lower band on the 2-day chart is now holding a strong inclination towards the upper Bollinger Band.

The price trend of Matic Network has been flattish throughout over the past 18 months now with intermittent spikes, with an All-Time High standing at $$0.045. The Bollinger Bands are seen moderately squeezing, which is likely to lead to a near-term weekly breakout on the chart.

The MACD exhibits a slight bearish crossover despite the intraday gain in the Matic token price due to no steep gain in price. The RSI also shows no string inclination towards either side, which lies at 54.02.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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