Posted 1/9/2024, 2:05:00 PM
MATIC Price Faces Pivotal Moment After Bounce Off 2021 Highs
- MATIC price bounced after Polygon announced a new fee calculation upgrade, but still trades inside a long-term bearish pattern
- MATIC has faced repeated rejections from a descending resistance line since its ATH in Dec 2021
- MATIC broke out in Dec 2022 but quickly fell back below the resistance line that's held for over 740 days
- Analysts have a bullish outlook, with one predicting a 600% MATIC price rally if it breaks the pattern
- MATIC trades inside an ascending channel since Nov, with potential for either a breakdown or continued bounce based on RSI and candlesticks