Experts Have Highlighted the Rising Parallel Channel Model For This Altcoin!

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MATIC debuted a rising parallel channel model after a decline of up to $1.75. The price is trading between the main levels of this formation and is currently going through a correction phase where it will decelerate back to the support trend line.

MATIC Graphics

Expert reviews about MATIC/USD are taking shape in a positive framework. MATIC, acting in accordance with the levels of a parallel channel model rising on the daily timeline. The price of the popular crypto currency has recently been rejected from the general resistance trend line and set a course towards the alt trend line. But this correction phase caused a negative 18% loss on the MATIC token and is still halfway there.

However, on December 13, the price showed a definite decline from the strong support of the 2 dollar and is currently retesting this level for appropriate resistance. Significant levels were recorded as 20, 50, 100 and 200 MA. In addition, 100 MA provides excellent dynamic support for the token price. The RSI line is steadily approaching the bearish zone, hovering just above the neutral zone.

Significant Levels of Support and Resistance

Also, the RSI chart also shows a decadal trend for the new price, which indicates some weakness among buyers. This lower time frame chart shows a rejection candle at the $2 resistance level. The MATIC price, which continues to remain below this resistance, may fall to the lower support trend line. It is expected that overcoming this place will prepare the price for the $2.23 scenario as the technical table plots the resistance at $2 most soon. On the other hand, in case of a possible sales pressure, the support levels were recorded as $1.78 and $ 1.60.

Disclaimer Of Liability: The information contained in this article absolutely does not contain investment advice. Investors should be aware that crypto currencies have high volatility and therefore risk, and should conduct their transactions in accordance with their own research.
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