MATIC Price Forecast: Key Levels to Watch
Recent analysis of MATIC's price action indicates a bottom was established earlier this month at $0.2860, followed by a significant bullish breakout. Prior to this surge, MATIC had been trading within a falling wedge pattern, a widely recognized indicator of potential bullish reversals. The breakout above the 50-day moving average and the upper boundary of the wedge confirms that the bullish momentum is already in play.
However, a minor double-top pattern has emerged at $0.4415, which is often viewed as a bearish reversal signal in technical analysis. For the bullish outlook to remain intact, MATIC needs to break above this double-top level and surpass the 200-day moving average at $0.3737. Achieving this would signal further gains, with the next target projected at $0.5820, a level last seen on August 25.
On the flip side, a decline below the double-top neckline at $0.3533 could indicate bearish momentum, pushing the price lower. In this scenario, the next significant support level to watch would be $0.2860, the previous bottom. These key levels make MATIC a token to watch closely as it navigates between bullish and bearish signals.
