MATIC Tau Su'esu'ega Fa'ailoga ile 8-10% Fesoasoani Fa'atasi i luma, Ae o lo'o i ai se sao.

Silicon Valley Bank (SIVB), a crypto-friendly bank, experienced a taua tele of 60.4% in its share price on March 9th. This decline had a ripple effect on the crypto market and intensified the selling pressure on the majority of major cryptocurrencies. Thus, the ongoing correction in MATIC price extended its downfall to the combined support of 0.786 Fivaonacci retracement level of $0.94. Can buyers take trend control now or there be more pain in the coming days?

Manatu autu 

• A bullish reversal from 0.786 FIB support may trigger an 8-10% temporary rally to $1.16
• The 1.16 level stands as a strong supply zone for MATIC traders
• Ole aofaʻi ole fefaʻatauaʻiga i totonu ole MATIC e $921.5 Miliona, e faʻaalia ai le 21% o tupe maua.

Punavai- -Tradingview

The crypto market witnessed ease in selling pressure after the US. President Joe Biden hinted that the United States economy is “headed in the right direction” and therefore, the forthcoming interest hike program could be less aggressive.

Thus, the polygon coin bounced back from the combined support of 0786 FIB and $0.94 and surged the prices 13% higher to reach the current price of $1.07. Anyhow, the MATIC tau downfall to a low Fibonacci retracement level such as 0.786 indicates weakness in buyers’ commitment.

Therefore, interested buyers will need better confirmation to assure the coin price is riding a post-correction rally.  

Faitau foi: O a Bitcoin Ordinals ma faʻafefea ona latou galulue?

With sustained buying, the recent bullish reversal may rise 8-10% and retest the crucial resistance of $1.16. The market participants should close at this level as a reversal or breakout from it will influence the near future price of MATIC. 

Faailoilo Technical

RSI: Le aso RSI malifa wavering low in bearish territory indicates market sentiment remains bearish

Ema: O le 20-ma-50-aso Ema nearing a bearish crossover near the $1.19 mark creates a strong resistance zone for buyers.

MATIC Coin Price Intraday Levels

• Nofoaga nofoaga: $ 1.06
• Tulaga: Bullish
• Volatility: Feololo
• Tulaga tetee- $1.05, ma le $1.16 
• Laasaga lagolago- $0.95 ma le $0.82