<h2>In MATIC technical analysis, we see a reversal rally going to happen soon above the 50-day SMA</h2>
<strong><em>MATIC price showcase a gradual bullish reversal challenging the overhead resistance at the 50-day SMA. Will the reversal rally exceed the SMA? Here's the MATIC technical analysis by our experts.</em></strong>

<strong>Key technical points:</strong>
<ul>
 	<li>The MATIC market price action shows a bullish reversal from the $0.46 mark.</li>
 	<li>The reversal rally teases a cup and handles pattern formation in the daily chart.</li>
 	<li>The 24-hour trading volume of Polygon is $646 Million, indicating a rise of 62%.</li>
</ul>
<h2>Past Performance of MATIC</h2>
The bullish failure to surpass the 50-day SMA results in a bearish retracement under the $.50 mark to test the $0.46 support level. Finally, the buyers overtake the train control to rechallenge the 50-day SMA with a cup and handle pattern formation.

<img src="https://s3.tradingview.com/snapshots/m/mwjdf73w.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/mwjdf73w/" target="_blank" rel="noopener">Tradingview</a>
<h2>MATIC Technical Analysis</h2>
<a href="https://coincodex.com/crypto/matic-network/" target="_blank" rel="noopener">MATIC price</a> Action showcases the $0.61 level acting as the neckline of the cup and handles formation. Traders can expect a breakout rally to reach the overhead resistance at $0.78 if the prices surpass the 50-day SMA. The MACD indicator Showcases a bullish trend of the fast and slow lines after avoiding a bearish crossover event. Hence the indicator showcases a bullish trend in motion, increasing the likelihood of a bullish breakout.

The RSI indicator showcases a double bottom reversal in the nearly oversold zone resulting in a jump over the 14-day average line to reach the halfway line. Hence the indicator showcases a remarkable growth in the underlying bullishness, adding points to the breakout possibility. Hence the technical indicators maintain a bullish trend in motion, but the growing bearish influence in the daily candle may result in a bearish reversal. In a nutshell, the <a href="https://www.cryptoknowmics.com/news/matic-technical-analysis-crashes-polygon-prices-halt-at-0-50/">MATIC</a> price analysis showcases a rise in buying pressure but suggests waiting for a price action confirmation.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
If the buying pressure continues to grow, the MATIC prices will surpass the opposing 50-day SMA. Traders can expect the breakout rally to reach the next resistance level at $0.78

<strong>Resistance Levels:</strong> $0.57 and $0.78

<strong>Support Levels:</strong> $0.46 and $0.33

MATIC Technical Analysis: Reversal Rally Soon To Exceed 50-day SMA

MATIC Technical Analysis showcases a gradual bullish reversal challenging the overhead resistance at the 50-day SMA. Will the reversal rally exceed the SMA?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

MATIC Technical Analysis: Reversal Rally Soon To Exceed 50-day SMA

Top Picks