Is MATIC retracement an opportunity to buy the token?

  • Polygon has been witnessing strong fundamentals that boosted the native token

  • Polygon’s MATIC retraced sharply on Tuesday 

  • MATIC faces some more pressure as the price moves below moving averages.

Polygon’s MATIC/USD will rarely miss out on the basket of the go-to cryptocurrencies. It is one of the cryptocurrencies that has been making good headlines. The price has also been reacting well to the strong fundamentals.

The most recent fundamentals of Polygon are a partnership with Starbucks. The coffee chain giant said it would use Polygon for its collectible digital stamps. The move is part of the company’s entry into Web3 with the Starbucks Odyssey program.

On August 31, Robinhood said it would let users send and receive MATIC on the polygon network. That expands MATIC’s utility beyond the Ethereum network. The move was inspired by the need to cut the huge costs on the Ethereum network.

MATIC slides below the moving average adding bearish pressure



eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy MATIC with eToro today is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy MATIC with today

Source – TradingView

From the technical outlook, MATIC is not yet in a buy zone. At the current trading of $0.85, the price could slide further to minor support at $0.76.

Another bear indicator is the moving average. MATIC is trading below the 20-day and 50-day moving averages. Similarly, an RSI reading of 48 suggests that MATIC is not yet oversold. With the growing bear sentiment after the inflation data, a more likely direction is to the downside. 

On the flip side, MATIC has maintained an ascending trendline. If the price keeps the trendline, MATIC could turn bullish. Investors should consider buying on price action signals or if the token recovers above the moving average (s).


While MATIC remains vulnerable, the ascending trendline could ignite a bullish move. Investors should watch for bullish signals. A break below the trendline will see the token slide to minor support at $0.76.

All Dutch and English crypto news!

329 Japanese companies support Astar Network’s Nikkei ad

Astar Network's latest ad has gained support from over 300 Japanese companies as it looks to spearhead the growth of Japan's web3 ecosystem.   Astar Network, a...

What Cardano’s Vasil hard fork means for the blockchain

After several delays and some setbacks, Cardano's long-awaited Vasil upgrade finally went live on Sept. 22. From the outside looking in, the hard fork is...

Cardano bulls run out of steam after Vasil hard fork — 40% ADA price crash in play

Cardano's (ADA) long-awaited Vasil update went live on Sept. 22, which promises to make its blockchain more scalable and cheaper than before. However, this has...

Terra (LUNA) oprichter Do Kwon wordt gezocht in 195 landen

Het wordt steeds moeilijker voor Do Kwon om zich schuil te houden. De oprichter van Terra (LUNA) wordt nu niet alleen in Zuid Korea, maar...

Beste exchanges

Koop je crypto bij Bitvavo