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MATIC analysis – will the price manage to overcome 5-month resistance?

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MATIC in the long run still continues in growing channel since July 20. In the short term, the price also continues its upward trend. So let’s look at where the next level is resistance and where the potential targets of the current growing leg are. Will the price manage to surpass the long-term flag pattern?

In the short term, there is another target is at $ 2.40. At the same time, this level represents the resistance that is closest to the market price. Another resistance is found at the previous maximum of $ 2.55, where there is also resistance from local high growing trend.

MATIC / USD 4HMATIC / USD 4H. Source: TradingView

MATIC continues to grow in the long run

If the price manages to overcome the resistance of the long-term flag, it is likely to pick up a rising trend in turnover. In all probability, we would then overcome it as well long-term maximum $ 2.82. We would thus enter the price discovery zone. So far, however, the price has time for such a trend and we will mainly keep track of points $ 2.40 a $ 2.55.

In the long run, the MATIC / USD pair is continuous they also increase volumes, despite the fact that long – term growth has been current for 5 months. This growth however, it is stable and is constantly accompanied by deep ones corrections. The current trend is therefore not only long-term but also stable, unlike many high-cap coins.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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