Matic analysis on daily time frame with supp resis and Fib

23 feb 2023

On the daily timeframe, we can observe that Matic is currently receiving support at $1.3307 and facing resistance at $1.5285, with the next resistance levels at $1.74 and $2.0. Additionally, a Fibonacci retracement has been drawn on the chart, which shows a potential reversal near the 0.5 level of $1.1623. Furthermore, the yellow line of the 50-day moving average (MA) is also acting as a support level. If the price breaks below this 50-day MA support level, the next support lines are located at $1.032 and $0.7414. It is important to keep an eye on these levels as they can provide potential trading opportunities. However, it is essential to conduct further analysis and consider other technical indicators and fundamental factors before making any trading decisions.

Keep an eye on the trendline too