{"id":159541,"date":"2023-09-20T22:04:59","date_gmt":"2023-09-20T16:34:59","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=159541"},"modified":"2023-09-20T22:04:59","modified_gmt":"2023-09-20T16:34:59","slug":"whats-slowing-matics-path-to-recovery-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/whats-slowing-matics-path-to-recovery-crypto-news\/","title":{"rendered":"What&#8217;s slowing MATIC\u2019s path to recovery? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/08\/image-1-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>contributor<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 20, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>MATIC buyers continued to advance despite a bearish market structure.<\/em><\/li>\n<li><em>Positive funding rates could benefit bulls in the short term.\u00a0<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/MATIC\" data-wpel-link=\"internal\">Polygon\u2019s [MATIC]<\/a> gentle recovery from the $0.5 support level continued to gain momentum over the past day. Even though the higher timeframe structure remained bearish, buyers were slowly pushing prices higher, with MATIC trading at $0.54, as of press time.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Is your portfolio green? Check out the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/matic-network-profit-calculator\" data-wpel-link=\"internal\">MATIC Profit Calculator<\/a><\/p>\n<hr \/>\n<p>Furthermore, buyers were encouraged by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\">Bitcoin\u2019s [BTC]<\/a> rapid ascent to the $27k price zone, which spurred new bullish sentiment.<\/p>\n<h4><strong>Bulls adopt a conservative approach to recent price reversal<\/strong><\/h4>\n<div id=\"attachment_345069\" style=\"width: 1946px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATICUSDT_2023-09-20_09-25-12.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-345069\" class=\"size-full wp-image-345069\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Polygon MATIC price chart on dark background\" width=\"1936\" height=\"1054\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATICUSDT_2023-09-20_09-25-12.png 1936w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATICUSDT_2023-09-20_09-25-12-300x163.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATICUSDT_2023-09-20_09-25-12-1024x557.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATICUSDT_2023-09-20_09-25-12-768x418.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATICUSDT_2023-09-20_09-25-12-1536x836.png 1536w\" data-lazy-sizes=\"(max-width: 1936px) 100vw, 1936px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATICUSDT_2023-09-20_09-25-12.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-345069\" class=\"size-full wp-image-345069\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATICUSDT_2023-09-20_09-25-12.png\" alt=\"Polygon MATIC price chart on dark background\" width=\"1936\" height=\"1054\" \/><\/a><\/p>\n<p id=\"caption-attachment-345069\" class=\"wp-caption-text\">Source: MATIC\/USDT on Trading View<\/p>\n<\/div>\n<p>The 12-hour chart for MATIC revealed a conservative but sustained bullish approach to the price rebound. After the soft bounce from the $0.5 support, MATIC posted gains of 10.9% between 12 September and 19 September.<\/p>\n<p>A look at the Relative Strength Index (RSI) showed that the buying pressure rose gradually within the period and stood at 58, as of the time of writing. Similarly, the Chaikin Money Flow (CMF) flipped positive with a reading of +0.04.<\/p>\n<p>These signals pointed to growing bullish confidence in the short term. Given the overall bullish sentiment returning to the market, MATIC bulls could seize this opportunity to rally toward the $0.65 to $0.7 price zone.<\/p>\n<h4><strong>Mixed reactions in the futures market<\/strong><\/h4>\n<div id=\"attachment_345072\" style=\"width: 1810px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATIC_OI_CVD_FR.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-345072\" class=\"size-full wp-image-345072\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1800\" height=\"842\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATIC_OI_CVD_FR.png 1800w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATIC_OI_CVD_FR-300x140.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATIC_OI_CVD_FR-1024x479.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATIC_OI_CVD_FR-768x359.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATIC_OI_CVD_FR-1536x719.png 1536w\" data-lazy-sizes=\"(max-width: 1800px) 100vw, 1800px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATIC_OI_CVD_FR.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-345072\" class=\"size-full wp-image-345072\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MATIC_OI_CVD_FR.png\" alt=\"\" width=\"1800\" height=\"842\" \/><\/a><\/p>\n<p id=\"caption-attachment-345072\" class=\"wp-caption-text\">Source: Coinalyze<\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\">Read\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/matic-network-price-prediction\" data-wpel-link=\"internal\">Polygon\u2019s [MATIC] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<p>Market participants in the derivatives market adopted a cautious approach to MATIC\u2019s recent bullish moves. Data from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/matic-network\/open-interest\/\" data-wpel-link=\"external\">Coinalyze<\/a> showed that Open Interest continued to dip, despite the decent price gains. This inferred a lack of conviction in MATIC\u2019s price rebound.<\/p>\n<p>However, the Funding Rate has been positive since 14 September and the Spot CVD maintained its uptrend. This hinted at good demand for MATIC, which could be pivotal in buyers mounting a sustained bullish push.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>contributor Posted: September 20, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. MATIC buyers continued to advance despite a bearish market structure. Positive funding rates could benefit bulls in the short term.\u00a0 Polygon\u2019s [MATIC] gentle recovery from the $0.5 support level [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":159542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-159541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/159541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=159541"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/159541\/revisions"}],"predecessor-version":[{"id":159547,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/159541\/revisions\/159547"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/159542"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=159541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=159541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=159541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}