Polygon Tests Key Support at $0.38 as Technical Indicators Flash Mixed Signals
The post Polygon Tests Key Support at $0.38 as Technical Indicators Flash Mixed Signals appeared on BitcoinEthereumNews.com.
Darius Baruo
Sep 30, 2025 06:46
MATIC trades at $0.38 with bearish momentum building as price sits 44.6% below 200-day moving average, testing critical support levels amid neutral RSI readings.
Market Overview Polygon (MATIC) is currently trading at $0.38, down 0.29% in the past 24 hours with volume reaching $1.07 million on Binance spot markets. The token continues to face downward pressure as it trades significantly below all major moving averages, with the price sitting 44.6% below the 200-day simple moving average at $0.69. MATIC price action remains constrained within a narrow range as bears maintain control of the broader trend. Technical Picture The technical landscape for MATIC presents a predominantly bearish setup across multiple timeframes. The MACD indicator shows bearish momentum with a histogram reading of -0.0045, confirming the downward bias that has characterized recent price action. Moving averages form a clear bearish stack, with the 20-day SMA at $0.43 representing the nearest resistance level, followed by the 50-day SMA at $0.45. The RSI reading of 38.0 provides the only neutral signal in an otherwise bearish technical environment. This oversold territory suggests potential for a relief bounce, though it has yet to materialize into meaningful upward momentum. The lack of bullish divergence on the RSI indicates that selling pressure remains intact despite the token approaching oversold conditions. Critical Levels to Watch Support at $0.35 represents the immediate downside target and a critical level for MATIC bulls to defend. A break below this level would likely accelerate selling toward the secondary support zone at $0.33, which coincides with previous significant lows. The $0.38 level currently acts as both support and resistance, making it a pivotal point for near-term direction. On the upside, resistance at $0.58 stands as the primary obstacle for any…
Filed under: News - @ October 1, 2025 9:24 am