Issued on: 11th July’23
Valid upto: 21st July’23
Token: MATIC
Category: Layer 2 solution
Market Cap: $6,853,088,446
Circulating Supply: 9,319,469,069
Total Supply: 10,000,000,000
Price Update:
MATIC price at the time of writing (11th July, 16:00) is $0.7354, with a 24-hour trading volume increased by 88.85% to $541,310,643. MATIC price is up by 8.02% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
Analyzing the above chart:
- Positive news, strong fundamentals & a notable surge in trading as well as Social volume, the indications suggest a bullish sentiment for MATIC.
- MATIC demonstrated a bounce from the $0.51 major Support/Resistance flip Level. It then entered an upward sideways channel & recently experienced a breakout of descending trendline in a higher timeframe. This breakout was accompanied by significant volume and a strong daily closing. This indicates a bullish trend for MATIC.
- A Long Trading strategy can be assessed between $0.7195-$0.7428 with an invalidation below $0.6775. (Valid for 10days)
- On the upside, one can see a rise of 25-30% toward $0.8180 & $0.9392.
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: MATIC is now available in the futures market in both Go and Pro apps with up to 15x leverage.
LAST TWO WEEKS’ ANALYSIS SUMMARY:
Return % is calculated based on pricing data as available on the platform and is valid for 15 days from the date of publishing.
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