$MATIC Price Prediction: More Losses on the Radar - BeinCrypto Analytics

According to the daily chart, MATIC has yet to break above the descending trendline since June 6. The inability to move past the region suggests that the token remains in bearish territory. If MATIC fails to rise above this trendline, then the price may struggle to recover. In addition, the Moving Average Convergence Divergence (MACD) is negative. The MACD uses the difference in moving averages to measure momentum. When the reading is positive, momentum is bullish.

When it is negative, momentum is bearish. If this trend continues, MATIC’s price may continue to fall. The On Balance Volume (OBV), which measures buying and selling pressure, gave similar indications. At press time, the OBV trends downward, indicating that sellers have been liquidating MATIC in large numbers. If this continues, the MATIC price may head toward $0.42. However, a resurgence in buying volume could halt the downtrend and possibly lead to the price reaching $0.54.