• Polygon’s MATIC is dropping below the $0.90 support, and bears could aim for more losses toward $0.70 unless there is a steady move above $0.95.
• Resistance levels are seen at the $0.808, $0.825 and $0.92 levels, while support lies at the $0.755, $0.732 and $0.700 levels respectively.
• If bulls fail to protect the $0.700 support, MATIC could decline heavily towards the $0.62 level in the near term future.
MATIC Price Drops Below 0.90 Support
Polygon’s MATIC token has been steadily declining from well above the 0.95 level against the US dollar in recent days as bearish momentum increases over time and it has now settled below 0.85 support level with risk of further downside break towards 0 .70 support level if not protected by bulls in the near future future market conditions..
Key Technical Levels
The key resistance levels for MATIC are seen at 0808$, 08225$ and 0920$ respectively while on downside main supports are seen at 0750$, 0732$ and 0700$. There is also a key bearish trend line with resistance at 0825$ on daily chart which needs to be broken for any chance of recovery wave for MATIC price to gain bullish momentum again in short to mid-term market conditions..
Risk of Downside Break Towards 070 Support Level
A low has formed near 07506$, however if there is no recovery wave from current trading range then bears will be looking for more losses towards 0700$ mark or even lower which can open doors for further steep decline towards 0620$ mark in coming days ahead if not defended by bulls successfully..
Upside Targets
On upside if bulls are able to defend current trading range successfully then they will be aiming for 0920$ resistance or even higher towards 0110$ mark where bulls can take control of situation again but only after breaking key bearish trend line with resistance currently seen around 0825$.
Conclusion
Overall it seems that MATC price is gaining bearish momentum below 0900$. The bears might aim for more losses toward 0700$ unless there is a steady move above 95$. On upside if bulls are able to defend current trading range then they will be aiming 0920$ resistance or even higher but before that they need to break key bearish trend line with resistance currently seen around 0825$.