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MATIC (Polygon): investment opportunity or new slumps coming?

MATIC token, the native crypto in the Polygon ecosystem, appears to be about to reach a very interesting technical level from an operational point of view. Here's how to trade MATIC by leveraging the PrimeXBT platform.


MATIC/USD: technical analysis with PrimeXBT

The most interesting project of the moment is undoubtedly Polygon (MATIC), one of the most widely used networks by industry users and large technology players.


The MATIC/USD cryptocurrency cross since July 2022 has been maintaining a sideways bullish trend overall despite the fact that the sector faced terrible declines last year.


From a technical point of view, therefore, it presents a very interesting structure, especially if we take the 14-period RSI on a daily timeframe as our investment compass. In fact, since July 2022 every time the value of the indicator has reached the 40-point threshold the trend of the MATIC/USD crypto cross has reversed course returning to record new highs.


Source: PrimeXBT


MATIC/USD: operational cue on PrimeXBT

According to some of our traders, it could therefore be interesting to monitor the performance of the MATIC token near the $1 numeral, a very sensitive technical level for cryptocurrency cross traders. Indeed, whales might find it interesting to see an increase in volumes that might occur near this level so that they can smoothly increase their positions in favor of MATIC.

To trade this crypto some of our traders use the tools offered by PrimeXBT. To sign up by following our affiliate path, click here.

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