![Polygon [MATIC] retraces into a daily bullish order block but…](https://i.headtopics.com/images/2023/5/6/cryptoamb/polygon-matic-retraces-into-a-daily-bullish-order--polygon-matic-retraces-into-a-daily-bullish-order--1654675603885375493.webp)
Polygon [MATIC] retraces into a daily bullish order block but...
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.The lack of a strong reaction from the $1 area meant demand for MATIC was weak.on the price charts appeared to flip bullish, but this was reversed just a few days later. Thereafter the price dropped from $1.18 to $0.95 on 26 April. Since then, neither the bulls nor the bears were able to force a strong move for MATIC.
Thereafter, the bulls were forced to retreat, but it highlighted the importance of this region on the price charts. It has confluence with the support level at $0.94 as well as the psychologically important $1 level. In late April, the losses of MATIC were not staunched at $1. The RSI was at 41 to show bearish momentum. The CMF was below -0.05 over the past week as well. This showed strong capital flow out of the Polygon market.
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