The post MATIC Price Tests Key Support as Polygon Shows Mixed Signals at $0.38 appeared on BitcoinEthereumNews.com.

Joerg Hiller
Sep 24, 2025 11:45

Polygon (MATIC) trades at $0.38 with bearish momentum indicators, while RSI suggests potential oversold conditions may present buying opportunities.

Quick Take • MATIC currently trading at $0.38 (-0.29% in 24h) • Polygon’s RSI at 38 indicates neutral territory with potential oversold conditions developing • No significant news catalysts driving current price action in past week What’s Driving Polygon Price Today? The MATIC price movement over the past 24 hours reflects broader market consolidation rather than specific news catalysts. With no significant Polygon-related announcements in the past week, the current -0.29% decline appears driven by technical factors and overall cryptocurrency market sentiment. The lack of fresh fundamental drivers has left MATIC price action primarily influenced by technical levels and trading patterns. This creates an environment where support and resistance levels become particularly important for determining near-term direction. MATIC Technical Analysis: Bearish Signals Emerge Polygon technical analysis reveals a mixed but predominantly bearish setup based on current indicators. The MATIC RSI reading of 38.00 sits in neutral territory, though it’s approaching oversold conditions that could signal a potential bounce. The MACD indicator shows clear bearish momentum for MATIC, with the MACD line at -0.0246 below the signal line at -0.0202. The negative histogram of -0.0045 confirms this bearish momentum is strengthening. Moving averages paint a concerning picture for Polygon bulls. The current MATIC price of $0.38 trades below all major moving averages, including the 7-day SMA at $0.37, 20-day SMA at $0.43, and significantly below the 200-day SMA at $0.69. This configuration suggests the longer-term trend remains bearish despite recent stabilization. Polygon’s Stochastic oscillator shows oversold conditions with %K at 25.19 and %D at 19.74, which could indicate a short-term bounce is possible if buying pressure emerges. Polygon…

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Filed under: News - @ September 25, 2025 6:26 am