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FxWirePro- MATICUSD (Chart of the day)

Polygon is a decentralized layer 2 Ethereum scaling platform that enables developers to build scalable user-friendly dApps with speed transactions and low fees.

 

MATICUSD recovered after a minor sell-off.

 

Any daily close above $0.60 confirms a bullish continuation.

 

MATICUSD  jumped more than 15%  in past week. The pair holds well above the short-term (34 and 55 EMA) and long-term moving average. It hit a high of $0.4202 and is currently trading around $0.4117.

 

The bullish invalidation can happen if the pair closes below $0.30.On the lower side, the near-term support is $0.40. Any break below targets $0.35/$0.30.

 

The immediate resistance stands at around $0.50.Any breach above confirms bullish continuation. A jump to $0.60  is possible. A surge past $0.60 will take it to $0.80/$1.

 

It is good to buy on dips around $0.37-0.38 with SL around $0.30 for TP of $1.

 

 

 

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