Crypto
MATIC Trapped in Downtrend with Bollinger Band at $0.31
MATIC's price has stalled at $0.38, and it seems like a downtrend is in store for this token.
The chart shows a clear picture of resistance from moving averages: the 20-day SMA is at $0.43, the 50-day SMA is at $0.45, and the 200-day SMA is all the way up at $0.69.
The RSI is grinding near 38, indicating disinterest rather than panic selling.
A Stochastic oscillator reading of roughly 25/20 indicates oversold territory, but any potential bounce will likely face resistance from the Bollinger lower band at $0.31 and the 200-day SMA.