The MATIC coin price shows a bullish reversal after testing the resistance trendline and challenges the $1.50 support zone.  

Key technical points:
<ul>
 	<li style="font-weight: 400">MATIC prices trade under all the crucial EMAs.</li>
 	<li style="font-weight: 400">The coin price has jumped 6% in the last 48 hours.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Polygon is $821.59 Million, marking a 20% rise.</li>
</ul>
<h2>Past Performance of MATIC</h2>
MATIC coin price fell by 20% within a week to retest the broken resistance trendline after falling to surpass the EMAs in the daily chart. The reversal breaks below the $1.50 support zone, and the post-retest reversal from the trendline must surpass the $1.50 zone for uptrend continuation.

<img src="https://s3.tradingview.com/snapshots/c/C7FZFMk4.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/C7FZFMk4/">Tradingview</a>
<h2>MATIC Technical Analysis </h2>
MATIC coin price shows a bullish reversal from the resistance trendline, accounting for a 6% jump in the last 48 hours. However, the prices struggle to get a closing near the resistance zone resulting in a long wick formation.

The crucial daily EMAs are on the verge of achieving bearish alignment with the 50 and 100-day EMAs bearish crossover. Moreover, the falling trend of the crucial EMAs is ready to provide dynamic resistance to keep the downtrend going.

RSI Indicator: The RSI slope falls under the halfway mark and the 14-day average line after a long consolidation in the nearly overbought zone. However, the RSI value is regaining bullish steps and climbing to surpass 50%.

Stochastic RSI: The K and D lines are united in the oversold territory and gradually gain bullish space. 

In a nutshell, the MATIC technical analysis stresses the selling opportunity near the $1.50 mark.
<h2>Upcoming Trend </h2>
The MATIC coin price shows a quick upside reversal from the resistance trendline to retest the $1.50 fallout. However, traders can expect the post-retest reversal to reach the $1.20 mark if the buyers fail to surpass the 50-day EMA. 

Support Levels: $1.35 and $1.20

Resistance Levels: $1.50 and $1.70

MATIC Technical Analysis: Trendline Retest Struggles To Revert Trend

The MATIC coin price shows a bullish reversal after testing the resistance trendline and challenges the $1.50 support zone.  

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: Trendline Retest Struggles To Revert Trend

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