MATIC has been in a bearish trend across multiple timeframes, reflecting growing selling pressure, especially around key volume levels. Here's a breakdown of what's happening on each chart:
Weekly (1W) Chart:
Key Levels:
Support: The major value area low (mVAL) sits around $0.3838, and price is below this level.
Resistance: The next significant resistance is at $0.4544 (mVAH) and $0.5073 (Point of Control or POC).
Volume Profile: The mVAL suggests a critical zone where MATIC could either bounce or drop further into lower zones.
Price Action:
MATIC has rejected the mVAL and appears to be heading lower, showing weakness and potential continuation of the downtrend.
RSI: The weekly RSI is oversold (35.65), indicating exhaustion from sellers. However, it hasn't yet entered the 30 region, so more downside may still unfold before a possible reversal.
3-Day (3D) Chart:
Key Levels:
Support: Again, mVAL at $0.3838 is in focus, and the price is trading right around it.
Resistance: Strong resistance levels lie at $0.4547 and $0.5073.
Price Action:
The recent candle shows some indecision with small wicks, indicating buyers trying to step in near the mVAL. However, this hasn’t resulted in significant upside momentum.
RSI: The RSI is in the oversold zone (35.54), but no divergence is apparent, which suggests the trend could persist before relief.
Daily (1D) Chart:
Key Levels:
Support: The mVAL ($0.3838) remains the key support.
Resistance: Resistance at $0.4100 (qVAL) and $0.4196 (mVAH) could prove difficult to break.
Price Action:
A small consolidation is visible, with prices moving sideways near support. However, the large volume profile gaps between $0.3838 and $0.5073 indicate that once the support is broken, it could move swiftly downward.
Volume Profile: The visible gap shows that if the mVAL support at $0.3838 fails to hold, there is a lack of trading volume until much lower levels, potentially leading to rapid downside.
RSI: The daily RSI is at 41.71, reflecting a mild recovery but still showing weak momentum. A break above 50 would indicate a shift to bullish momentum.
4-Hour (4H) Chart:
Key Levels:
Support: mVAL at $0.3838 remains a key support, while $0.3679 represents immediate short-term support.
Resistance: Local resistance at $0.4100 remains unbroken, and prices are struggling to retest it.
Price Action:
The 4H chart indicates that price is consolidating near key support levels, but there's no strong bullish signal yet.
The descending RSI suggests weak buying interest, with RSI at 34.66, which is close to oversold, but no divergence from the price is apparent.
Volume Profile: The 4-hour chart has some accumulation around the POC ($0.3680), but unless this level is defended strongly, a downward breakout could be likely.
Summary and Conclusion:
MATIC is clearly in a bearish phase across all timeframes, with the price trading around critical support levels, particularly at $0.3680 and $0.3838.
Oversold RSI across most timeframes suggests a potential for relief in the coming days, but no significant bullish divergence or reversal patterns have formed yet.
The next major levels to watch are $0.3838 (key support) and $0.4100–$0.4196 (local resistance). A breakdown below support could lead to further downside, potentially targeting $0.3350, while a recovery above $0.4196 could see MATIC retest $0.4544.
👉 What’s your take? Do you think MATIC will hold support or break lower? Comment below!
