MATIC Price Breaks Key Resistance Level, but Recovery May Take Time As Bears Dominate

05/18 22:25

The MATIC price has broken above a key resistance level, but its price appreciation has been modest with only a 2% increase over the past week. The technical outlook suggests that recovery might take some time as the bears dominate the price, and 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. The altcoin could drop toward $0.81 and potentially below $0.80 if sellers persist, but breaching the $0.87 level could initiate a recovery trend.

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