The MATIC price recently broke above a key resistance level, indicating a positive development. However, its price appreciation over the past week has been modest, with only a 2% increase. MATIC has remained close to a critical support line on its daily chart despite the breakout.
The technical outlook suggests that recovery might take some time as the bears dominate the price. Both demand and accumulation have decreased in the daily timeframe.
While MATIC currently sits above an important resistance, the absence of buyer support could lead to a significant loss in value before any recovery occurs on the daily chart.
If the bears exert further pressure, MATIC will likely resume sideways trading, fluctuating between $0.81 and $0.84. The uncertainty in the Bitcoin price movement,
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