What Will MATIC Experience in June? 🤔
Polygon (MATIC) continues to feel the recent downward pressure it has experienced. Although a positive atmosphere has formed across the market after Bitcoin (BTC) successfully tested the $67,000 level, the MATIC price continues to trade in the two-month range. So, what awaits MATIC investors in June?
In February 2024, MATIC displayed strong price movements pointing to historical heights. MATIC, which found support at the level of $1 in the first half of March, failed to maintain this level with the decline in Bitcoin and fell below the $0.69 seen in January. In this process, MATIC, which declined to $0.6, is trading between $0.75 and $0.62 in the existing range pattern.
MATIC's daily RSI value remains just below 50, showing that the momentum required for upth is still not achieved. The OBV value, on the other hand, can signal that a breakout may occur on the MATIC side if it can rise from the lowest levels.
MATIC's current resistance level is at $0.75. Liquidity pools, where short positions will be liquidated, are available at $0.762 and $0.8. Even if the two-month consolidation ends and prices rise, a reverse price movement can be expected at the $0.8 level.
Watch the resistance zone between $0.75 and $0.8.
Pay attention to momentum changes by following daily RSI and OBV values.
Develop flexible strategies against possible price movements.
Investors should be careful when taking their position and consider the resistance zone between $0.75 and $0.8. Being prepared for possible price movements that may occur at these levels will be beneficial for investors.
