MATIC - Short Term Bearish

Mar 21, 2023

As per the 4 hour candle, MATIC broke the trend-line support on2nd march and now has a clear resistance at $1.25. It is likely to continue a downward movement towards $1.05. If the support at $1.05 breaks which seems likely, we could see a move towards $0.94 and $0.87. This looks like a more likely short term price action on MATIC. In the less likely event of MATIC breaking the resistance area of $1.25, we could start seeing a move towards the previous range high of $1.56.