MATIC Price Recovers Following Market Downturn
MATIC experienced a drop in price due to negative sentiment in the market, falling from nearly $1 to below $0.85. However, there has been a recent upward movement, with the coin increasing by more than 1.2% in the past day.
Analyst Predicts MATIC’s Price Recovery
Crypto analyst Ali Martinez has made a bullish projection for MATIC’s price, suggesting that it could recover its lost gains. Martinez based this prediction on the TD Sequential indicator, which indicates trend exhaustion and price reversal.
#Polygon | The TD Sequential presents a buy signal on $MATIC 4-hour chart.
A spike in buying pressure around the current levels could see #MATIC rebound, potentially toward $0.88, and even as high as $0.96. pic.twitter.com/lj96zgPh7k
— Ali (@ali_charts) January 6, 2024
The TD Sequential indicator is currently signaling a buy sign on MATIC’s 4-hour chart. However, the coin’s future depends on increased buying pressure at current levels, potentially pushing the price to $0.88 or even $0.96, which would represent a 16% surge from the current price.
RSI Indicates Bearish Momentum for MATIC
The Relative Strength Index (RSI) on the 4-hour timeframe for MATIC is currently at 38.2, suggesting bearish momentum for the token.
MATIC Price Overview
As of now, MATIC is priced at $0.828969, showing a modest 1.2% increase in the past 24 hours. However, over the past week, the coin has experienced a decline of more than 14%, erasing its December gains.
MATIC remains the 14th-largest cryptocurrency with a market capitalization of around $7.8 billion.
Hot Take: MATIC’s Recovery Potential
MATIC’s recent price recovery indicates a positive shift in sentiment and potential for further gains. With bullish projections from analysts and indicators pointing towards an upward trend, there is optimism that MATIC could reach levels as high as $0.96 in the near future.
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