The Polygon (MATIC) price may be potentially ending its correction phase and may be poised for a new upward movement.

Currently, MATIC is encountering a significant Fibonacci resistance level. If Polygon manages to break through this resistance, it could signal the potential for further price gains.

Polygon Eyes Breakthrough: Can It Surpass $0.821, the 0.382 Fib Level?

The Polygon (MATIC) price has experienced a significant increase over the past five days, bringing it to the 0.382 Fibonacci resistance level at approximately $0.821.

If MATIC manages to break through this resistance, its next potential target could be the golden ratio level around $0.89. A successful break above this level could indicate the end of the corrective movement and open the path for MATIC to target or even surpass its previous high at approximately $0.98.

Furthermore, in the daily chart, the MACD (Moving Average Convergence Divergence) lines are on the verge of forming a bullish crossover. The MACD histogram has been trending higher in a bullish manner for several days, and the RSI (Relative Strength Index) is currently in neutral territory.

Additionally, the EMAs (Exponential Moving Averages) have formed a golden crossover, confirming the short to medium-term bullish trend.

4H Chart Analysis: Mixed Signals Emerge From Key Indicators

In the 4-hour chart, Polygon (MATIC) has also experienced a golden crossover of the Exponential Moving Averages (EMAs), confirming a bullish trend in the short term. However, it’s important to note that the Relative Strength Index (RSI) is approaching overbough

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Author: Ryan James

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