Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
The cryptocurrency market seems ready to grow, as most coins are in the green zone again.
MATIC/USD
MATIC is one of the biggest gainers as the price has blasted by 22.54% over the last 24 hours.
On the hourly chart, MATIC has bounced off from the recently formed resistance level at $1.1789. If the breakout does not happen until the end of the day, one can expect a correction to the support at $1.0976 tomorrow.
MATIC has started realizing its accumulated energy on the more extensive chart. The bullish trend remains relevant until the rate is above $1.0545.
In this case, the more likely scenario is growth to the $1.20 zone. In addition, the rising volume confirms buyers’ strength.
Analyzing the chart against BTC, MATIC has made a breakout of the resistance level at BTC 0.00004724 against the increased volume. Even though the bulls keep controlling the situation on the market, one should expect a slight correction so the altcoin can get more energy for a further upward move.
MATIC is trading at 1.1621 at press time.
Source: https://u.today/matic-price-analysis-for-november-4