traderanalysis

MATICUSD(4Hr): MATIC moving without any signs of a bullish trend

Short
BINANCE:MATICUSD   MATIC Network / US Dollar (calculated by TradingView)
Market in the last 24hrs
MATICUSD saw a major downward momentum as the price moved form the middle to the bottom Bollinger band . Trading volume has been high suggesting that the bearish momentum is strong and is likely to continue.

Today’s Trend analysis
The price appears to be moving below the bottom Bollinger band suggesting that the price has rejected it as a support line and we can expect the downward trend to continue till the price accepts the bottom band as a support line after which we can expect some consolidation movement of the price.

Price volatility was high at approximately 9.1%, with the day's range between $0.741 — $0.822.
Price at the time of publishing: $0.744
MATIC’s market cap: $4.73 Billion

However, the Indicator summary is giving a 'STRONG SELL' signal on MATICUSD.

Out of 11 Oscillator indicators, 2 are giving a SELL signal, 9 are neutral and 0 are giving a BUY signal.

Out of 15 Moving average indicators, 14 are giving SELL signal, 1 is giving neutral and 0 are giving a BUY signal.


Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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