The Price of Matic has has a Nice Bounce

If you transact on the polygon blockchain there chances are you own some matic. Price action on the coin has been impressive in that it never broke down to its lowest range during the FTX driven market sell off.

Let's talk about what has happened since...

Relative Strength

When you look at the daily chart above you can see it held that 70 cent area support over and over before finally moving higher with the market recently, taking out the first resistance level of 1.05.

Since then it has pushed to test that clear pivot top that happened back in November and looks like it wants to take it out.

Whether that happens or not doesn't really change that Matic is one of the few coins that is testing it's second level prior high. Bitcoin hasn't quite done that yet with 25K still alluding it.

Will be interesting to see how Matic plays out over February and if it can attack that next upside target around 1.50

Posted Using LeoFinance ^Beta