Matic Price is Back Down to Key Support

Well, the price of Matic has me sweating again as not only did it return to that demand zone in the 1.35-1.45 area, but it is all up in it like something fierce!

Matic Price Handing on for Dear Life...

Looking at the daily chart above it isn't too hard to see the range that has been Matic's savior the past 4 plus months.

To be honest, after such a modest bounce the last two times price tested this level it is hard to be very confident right now that it holds again.

Anything can happen, but if bitoin sell off further I just don't see how matic holds again. If we see a break then 1.05 is the next downside target.

I'd rather not ride it down but I have a long-term bag that is staked so it is what it is. Personally, I'm not a buyer at 1.05, but that's more a portfolio decision than a trading decision.

I will say if for some reason we see .75 cents I will for sure be adding. That would be a 50% drop though at which point bitcoin would likely sold off.

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