Polygon Shows Bearish Signs, Can $0.76 Support Hold Price Of Matic?

The price of Polygon (MATIC) has struggled to stay above the key support zone of $0.8 as the price of Bitcoin (BTC) showed indecision for weeks as the price moved in a range for weeks between $19,500-$20,000 with the price stalling on the next movement. This has affected the price of altcoins, including Polygon (MATIC), as prices dropped below $0.8 but reclaimed that region quickly. (Data from Binance) Related Reading: Why Ethereum Price Longs Might Profit Ahead Of “The Merge” Polygon (MATIC) Price Analysis On The Weekly Chart The price of MATIC has had a difficult time replicating its bullish move that has created euphoria in recent weeks as the price could not trade above the anticipated $1. This region of $1 has become a hard nut to crack, acting as resistance for the price of MATIC to trend to higher heights. MATIC’s weekly price trading above $0.8 gives it a better chance of trending higher after a series of bullish runs from a low of $0.35. If MATIC fails to hold the $0.8 support level, the price of MATIC may retest $0.77, which is also a good price support level. With the price of MATIC still looking bullish, it must overcome the resistance at $1; otherwise, the price of MATIC will remain in the $1-$0.8 range. If the MATIC price maintains this bullish structure, we may see it retest $1 and possibly higher with increased buy volume. Weekly resistance for the price of MATIC – $1. Weekly support for the price o...