Polygon (MATIC) sees a strong oversold bounce after $250B crypto market rebound

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Polygon (MATIC) sees a strong oversold bounce after $250B crypto market rebound
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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.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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