Polygon (MATIC) has been trading inside a large range between $0.6876 and $1.05 for the past several days. The price has currently reached the support of the range.
If the price bounces off $0.6876, the pair could reach the 20-day EMA. This is an important level to keep an eye on in the short term. If the price turns down from this resistance, the likelihood of a break below $0.6876 increases. The MATIC/USDT pair could then drop to $0.62 and later to $0.52.
On the contrary, if the price rises above the moving averages, it will suggest strong demand at lower levels. That could keep the pair stuck inside the range for a few more days.
If the price bounces off $0.6876, the pair could reach the 20-day EMA. This is an important level to keep an eye on in the short term. If the price turns down from this resistance, the likelihood of a break below $0.6876 increases. The MATIC/USDT pair could then drop to $0.62 and later to $0.52.
On the contrary, if the price rises above the moving averages, it will suggest strong demand at lower levels. That could keep the pair stuck inside the range for a few more days.
