MATIC is oversold after the markets experience a rebound.
MATIC's sharp rebound placed the price back above its 200-day exponential moving average , a level significant for its role in limiting the market's downside bias.On Jan. 25, MATIC bulls attempted to reclaim the 200-day EMA as support almost a week after losing it. The drop-and-bounce around the blue wave looked very similar to the price action in the July–August period last year, wherein closing above it had led to a 200%-plus price rally.
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