Trapped In A Triangle MATIC Prices Are At Crossroads!MATIC price action shows a sharp decline, leading to the formation of a triangle pattern.
A potential breakdown could see MATIC prices fall below $0.50 to $0.4480.
Conversely, a bullish reversal might propel MATIC prices to $0.70.
Polygon's price has found support at $0.53, hinting at a short recovery.
The upcoming Bitcoin ETF's SEC deadline might bring a bullish spike for altcoins.
MATIC's price action within the 4-hour chart forms a triangle pattern due to the resistance trendline.
Despite crashing to the triangle's support trendline, MATIC prices have held firm.
A potential positive cycle could see MATIC prices rise within the triangle.
However, the recent 7.72% drop in 48 hours suggests a possible downtrend for Polygon below $0.50.
Technical indicators like MACD and RSI show a bearish trend in the 4-hour chart, with the declining 50 and 200-day EMA reinforcing this sentiment.
MATIC's price is trapped in a triangle, indicating a potential sharp move upon breakout.
A bearish breakdown could push MATIC prices to $0.4480, while a bullish breakout might see prices nearing the $0.70 mark.
