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.
