For a while now, the price of MATIC has been in a consolidation zone, moving between $0.7730 and $0.6233,\u00a0 forming a bearing triangle flag in the process. This is a result of the drop from its high of $0.9288 that happened days ago which led to MATIC dropping by over 25%.\u00a0<\/span><\/p>\n Although the price of<\/span> MATIC <\/span><\/a>is still consolidating, it is building up momentum for a potential breakout. So taking a trade at this point is not advisable until a breakout occurs which can be either above the consolidation zone or below it.<\/span><\/p>\n In this article, we will dive into the possible price actions when a potential <\/span>breakout<\/span><\/a> from the consolidation occurs. Lately, MATIC\u2019s price and market cap have dropped, suggesting that the bulls may be waiting out this spike.<\/span><\/p>\n As of the time of writing, MATIC\u2019s price was down by 2.97%, trading around $0,6926 below the 100-day Simple Moving Average (SMA) in the last 24 hours.\u00a0<\/span>Its market capitalization has decreased by over 5% in the past day to $6.91 billion. Meanwhile, its trading volume has risen to $374 million, indicating a more than 1% increase in the past day.<\/p>\n Looking at the 4-hour timeframe chart, MATIC is attempting to break below the 100-day moving average, suggesting that prices might break below the consolidation zone and move<\/span> bearishly.<\/span><\/a><\/p>\n<\/p>\n Also, using the Relative Strength Index (RSI) to analyze the price action in the 4-hour timeframe, we can see that the RSI line has crossed below the 50% level, heading toward the oversold zone, suggesting that the price might break below the consolidation zone.<\/p>\n Meanwhile, in the daily time frame,\u00a0 it can also be observed that the price attempts to break below the bearish triangle out of the consolidation zone below the 100-day simple moving average.<\/span><\/p>\n The 1-day RSI also suggests that the price of MATIC might break below the consolidation as the RSI signal line has broken below the 50% level and is heading toward the oversold zone. Specifically, this indicates that sellers weaken buyers in the market.<\/span><\/p>\n With this strength of the sellers in the market, MATIC will continue to move downward when there is a break out below the consolidation zone.<\/span><\/p>\n Conclusively, if there is a break out above the consolidation zone, MATIC will continue to move upward toward the $0.9488 resistance level. If the price breaks this resistance level, it could rise even higher to test the resistance level of $1.0968.<\/span><\/p>\n On the contrary, should MATIC\u2019s price break below the consolidation zone, in continuation of its downtrend the price might begin to move toward the $0.5030 support level. It might continue to move downward toward the 0.3132 support level if the price breaks below this level.<\/span><\/p>\n Featured image from Adobe Stock, chart from Tradingview.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" For a while now, the price of MATIC has been in a consolidation zone, moving between $0.7730 and $0.6233,\u00a0 forming a bearing triangle flag in the process. This is a result of the drop from its high of $0.9288 that happened days ago which led to MATIC dropping by over 25%.\u00a0 Although the price of […]<\/p>\n","protected":false},"author":2,"featured_media":313220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-313216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/313216","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=313216"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/313216\/revisions"}],"predecessor-version":[{"id":313223,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/313216\/revisions\/313223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/313220"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=313216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=313216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=313216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}MATIC On The 4-hour Chart<\/strong><\/h2>\n
![\"MATIC\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/05\/WhatsApp-Image-2024-05-30-at-10.04.38-AM.jpeg?w=460&resize=460%2C267\")
<\/p>\nPotential Price Actions In The Event Of A Breakout<\/strong><\/h2>\n