MATIC Technical Analysis: Will Polygon Rise To The $1 Mark?

The MATIC technical analysis shows a bullish reversal from the 50-day SMA and exceeds the $0.60 neckline. Will the reversal rally reach $1? Key Technical Points: MATIC prices have increased by 18.71% in the last 24 hours. The price action shows a bullish engulfing candle resurfacing market price above the $0.60 neckline. The 24-hour trading volume of Polygon is $1.177 Billion, indicating a rise of 86%. Past Performance of MATIC The MATIC price action shows a bullish failure to surpass the neckline of a cup and handle pattern at $0.60 in the daily chart. However, the buyers were successful in sustaining the market price above the 50-day SMA resulting in a bullish engulfing candle with a 20% jump. The engulfing candle surpasses the $0.60 neckline and prepares to reach the overhead resistance at $0.78. Source – Tradingview MATIC Technical Analysis The MATIC prices show a bullish candle coming as a follow-through of last night’s buying spree repairing to cross about the $0.65 level. Hence polygon investors can expect a bullish week ahead as Polygon is selected as the Web3 Project for the Disney Accelerator. Raise your hand if you remember your first Disney experience like it was yesterday 🙋🏻‍♀️ #disneyfeels We are excited to announce that Polygon has been chosen to be a part of the Disney Accelerator program 🎉https://t.co/hk6gZziy8X — Polygon – MATIC 💚 (@0xPolygon) July 13, 2022 Polygon native token’s market price remains boun...