MATIC's lower timeframe price action, along with signals from technical indicators, suggested that a bullish reversal might be looming.
hovering on a key support level of $0.8355, it remains to be seen if this support level will act as a strong base for bulls.The selling pressure on MATIC has seen bears smash key support levels at $1.0778 and $0.9504. However, bulls have been able to briefly stem the bearish tide at the $0.8355 support level. The support level has held strong over the past seven days.
Recent price action over the past 24 hours revealed that the $0.8355 support level might be key to a bullish reversal. The support level has already been tested three times with the level holding firm so far. A look at on-chart indicators showed that buyers might be growing in strength. The RSI showed a reading of 54 to denote increasing buy pressure. The OBV also showed a slight uptick to hint at increasing volume. The CMF rose sharply to the zero mark, signaling more inflows for MATIC.
Bulls will be aiming to push on to test the resistance level at $0.9504. On the flip side, a break of the bullish defense at the $0.8355 support level could see bears aim for the January low of $0.7414.On-chain metrics revealed that bulls are actively preparing to rally from the press time support level. A look at data from1,10,100 MATICs worth todayBuyers also held the upper hand in the long/short ratio with a 56.08% advantage on the four-hour timeframe.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
MATIC in a steady downtrend, here’s where you can look to go shortthe OBV and the RSI were in bearish favor on the daily timeframe, but the rising mean coin age was an encouraging sight for the buyers
Lire la suite »
Litecoin bulls defend $90, are further gains likelyWhile the prospects of a move to $100 looked good, a Litecoin rally above the yearly highs was dubious.
Lire la suite »
Ethereum sees low volatility after $1760 bounce, what will bulls do nextThe declining volume and compression on the Ethereum price charts pointed to an uneventful weekend, with Monday's swing points likely to be important
Lire la suite »
Tron smashes $0.0711 resistance, bulls extend control, and moreTron [TRX] bulls extend market dominance to flip $0.711 level from resistance to support.
Lire la suite »
XRP stalls at $0.466 after strong gains, investors must wait for…Over the past 48 hours, XRP bulls struggled to flip the $0.46 resistance to support. It was also a higher timeframe Fibonacci retracement level- will XRP initiate a breakout over the weekend?
Lire la suite »
Tron smashes $0.0711 resistance, bulls extend control, and moreTron [TRX] bulls extend market dominance to flip $0.711 level from resistance to support.
Lire la suite »