Polygon (MATIC) Fails To Reclaim $1 Again; Here is Why Bulls Need Caution

MATIC’s price slowed down after showing so much strength as it rallied to a high of $0.97 but got rejected as the price rallied downward. MATIC could suffer retracement as the price site on a crucial support area, holding the price off from sellers with hopes of a rebound. MATIC’s price remains strong on the daily timeframes as the price trades above the 50 Exponential Moving Average (EMA). The price of Polygon (MATIC) showed some incredible price action as the price rallied from a low of $0.35 to a high of $1.2 before facing a rejection back to its key support of $0.77, where bulls were able to hold sell-offs. The crypto market has enjoyed a bit of relief across all assets, with Polygon (MATIC) showing why many faithful would go with this coin on any particular day. With uncertainty in the crypto market creeping in, MATIC could suffer a setback in price as it sits on key support. (Data from Binance) Related Reading: Brace For Impact, Bitcoin Price Holds At $20,400 Ahead Of FOMC Polygon (MATIC) Price Analysis On The Weekly Chart The past week has seen many altcoins continue to produce over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope could be settling into the crypto space once more. The new week looked different, as many altcoins that have had a good run, like MATIC, have struggled to stay afloat as they hold their key support region. MATIC’s price ...