Will Matic Survive Above $1 Mark

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Matic 200% Jump

Polygon is up almost 200% from its lowest price of $0.31 in June. Currently trading near $1 which is the resistance zone.

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Stronger Than Bitcoin

The RSI is near 60 and the relative strength indicator shows Matic outperform Bitcoin in recent weeks.

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Recently Matic made a high of $1 but it's facing resistance at the $0.95 to $1 zone for the last 15-20 days

$1 Is Resistance Zone

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Although the short-term trend is still positive many crypto analysts believe that at the current level of $0.90-0.95, Matic price may reduce up to 25%

May Fall Up To 25%

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According to @CryptoMangal, unless Polygon closes above $1, it may retest $0.75 & $0.66 zones. 

May Retest $0.75

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We have seen a 200% up move from lower levels in a few weeks and at current levels, we may see profit booking in Matic.

Profit Booking

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The 50% Fib Retracement of the current move from $0.31 to $1 comes around $0.66 which was also the breakout zone as well as Anchored VWAP from Lower Levels. 

Fib Retracement

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