MATIC being a part of the Polygon network makes it pretty good fundamentally, The technical side shows a cup and handle formation. I would personally wait for a couple of days before confirming the cup and handle as it's not complete yet. As far as the entry is concerned, I would recommend entering after a few price action confirmations like a good candlestick...
Price Action Trading:-
Buy on Breakout of the trendline,
atleast 15min candle should close above 1.3570
STOPLOSS below previous pivot low i.e below 1.2937
Reasons to go long
1. Support Zone
2. 0.5 Fib Lv
3. Double Bottom Pattern
All of the Alts are following BTC and Matic is not behind as well.
If you see, it has broken its resistance lines and has retested them before breaking the support below.
We have already retested 0.72 and last two 4 hour candles are printing downward journey as well.
Next support could be considered at 0.54/0.56.