<strong><em>MATIC price action shows a bullish flag pattern preparing to take down the sellers at $1 to reach the $1.30 mark. Should you buy it before breakout?</em></strong>

<strong>Key technical points: </strong>
<ul>
 	<li>The Polygon(MATIC) price sustains above the $0.90 mark to form a bullish flag pattern.</li>
 	<li>The bullish crossover of the 50 and 100-day SMA reflects an increase in underlying demand.</li>
 	<li>With a market cap of $7.47 Billion, the intraday trading volume of Polygon has decreased by 2.89% to reach $289 Million.</li>
</ul>
<h2>Past Performance of MATIC</h2>
The <a href="https://www.cryptoknowmics.com/news/matic-technical-analysis-will-polygon-prices-drop-to-0-80/">MATIC</a> price action shows an early bullish reversal before reaching the demand zone at the $0.80 mark resulting in the generation of a short support trendline. The price action forms a symmetrical triangle pattern within the $0.80 and psychological mark of the $1 zone. Moreover, considering the 80% bull run before the triangle pattern, the price action takes the shape of a bullish flag pattern.

<img src="https://s3.tradingview.com/snapshots/j/JvI7WBir.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/JvI7WBir/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">MATIC Technical Analysis </span></h2>
Currently, the MATIC price action displays the growth of bullish influence over the daily candle resulting in a 2.75% jump. Furthermore, the daily candle challenges the resistance trendline easing a potential bullish breakout. As the Polygon market prices sustain above the $0.90 mark, the increased bullish influence results in a crossover of the 50 and 100-day SMA.

The RSI slope displays a lateral trend in the nearly overboard zone struggling to sustain above the 14-day average line. Moreover, the MACD indicator shows a bearish trend in the fast and slow lines while maintaining an opposing alignment.

In a nutshell, the MATIC Technical Analysis suggests that traders should wait for the price action confirmation of a bullish breakout.
<h2><span style="font-weight: normal">Upcoming Trend </span></h2>
If the MATIC price trend breaks above the resistance trendline, the breakout rally might exceed the psychological mark of $1. Then, the unleashed bullish momentum can drive the market value above the 200-day average line and reach the overhead resistance of $1.30. However, a bearish reversal cracking the support trendline will retest the crucial support at the $0.80 mark.

<strong>Resistance Levels:</strong> $1 and $1.30

<strong>Support Levels:</strong> $0.90 and $0.80

MATIC Technical Analysis: Should You Buy MATIC Before It Crosses $1?

MATIC Technical Analysis shows a bullish flag pattern preparing to take down the sellers at $1 to reach the $1.30 mark. Should you buy it before breakout?

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: Should You Buy MATIC Before It Crosses $1?

Top Picks