- The MATIC price is trading within the demand zone, which extends from $ 0.685 to $ 0.768 in anticipation of a rebound.
- The IRM showed a buy signal, indicating a reversal of the downtrend.
- Polygon is considering a 12% push towards the nearest $ 0.828 resistance but could extend its rally to $ 0.872.
MATIC price experienced a strong downtrend in less than 48 hours, pushing it towards a critical support barrier. Now the wave of buyers could start an uptrend towards recent highs.
MATIC Prize for renewed takeover
In the 4 hours chart, the MATIC price shows that it finds a pivot in the demand zone between $ 0.685 and $ 0.768. A surge in buying pressure could push Polygon out of this containment and set the stage for a new rally.
The Momentum Reversal Indicator (MRI), where the green one candle flashed, maintains this rapid acceleration. This pattern projects one to four candlestick growth.
Thus, investors can expect renewed buying pressure. In such a scenario, the MATIC price could rise to the first resistance level at $ 0.828, which is 12% above its current position.
A breakout of this barrier could push the Polygon up to $ 0.872.
While the MATIC price could remain in the $ 0.685 to $ 0.872 range, a decisive break above the upper limit could retest its all-time high at $ 0.94.
4-hour MATIC / USDT chart
Regardless of the bullish signals, if the MATIC price crosses $ 0.685, it stays below that zone for an extended period. Investors can expect a bullish thesis to be invalid for a short time.
If this happens, Polygon could fall 10% to the demand barrier at $ 0.618.