This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Polygon’s MATIC price is currently consolidating above the $0.58 support level, indicating positive signs against the US dollar. The price is trading above $0.60 and the 100 simple moving average (4 hours), suggesting a bullish trend. On the 4-hour chart of the MATIC/USD pair, there is a key contracting triangle forming with resistance near $0.640. If the price manages to clear the $0.640 and $0.650 resistance levels, it could continue to rise. The next major resistance levels are at $0.665, $0.680, and $0.700. However, if the price fails to break above the $0.640 resistance level, a downside correction may occur. The immediate support on the downside is near $0.610, followed by the main support at $0.584. Technical indicators, such as the MACD and RSI, are showing bullish momentum for MATIC/USD. Overall, Polygon’s MATIC price is aiming higher, but a downside correction is possible if key resistance levels are not surpassed.