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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