Will Polygon (MATIC) Price Move Above $1 After New Upgrade? thumbnail
Will Polygon (MATIC) Price Move Above $1 After New Upgrade?
cryptonews.net
The MATIC price has experienced a decline below a long-term descending resistance trend line since December 2021, when it was trading at its all-time high of $2.90. This rapid descent led to a low of $0.32 in June MATIC faced repeated rejections from the descending resistance trend line (red icons)
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  • The MATIC price has experienced a decline below a long-term descending resistance trend line since December 2021, when it was trading at its all-time high of $2.90. This rapid descent led to a low of $0.32 in June
  • MATIC faced repeated rejections from the descending resistance trend line (red icons)
  • finally broke out in December following three unsuccessful breakout attempts.
  • the breakout was illegitimate since the MATIC price created a bearish candlestick the next week (red circle), falling below the trend line again, which has been in place for more than 740 days.
  • The weekly RSI is above 50 but falling, mixed signs that point to an undetermined trend.

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