MATIC buyers in the $1.57 area can manage their positions if... - BitcoinEthereumNews.com
Pinagmulan: MATIC / USDT sa TradingView In early April, the price visited the range (orange) lows at $1.56 and saw an immediate, impulsive move upwards. This saw the formation of a bullish order block. It represents an area where buyers are likely to be interested, and if MATIC can climb back above $1.58 resistance, it would be more likely that MATIC would see a leg upward. Pinagmulan: MATIC / USDT sa TradingView The RSI was just above the oversold territory and had a value of 30.1 at press time. By itself, an oversold RSI is not indicative of a bounce. However, confluence with a bullish order block and range lows means there is a high reward, a low-risk buying opportunity. The OBV has fallen a bit in the past couple of days and was beneath a level of near-term importance. If the OBV can pull itself back above the orange line, it could mean that bulls are vying for market control once more. Konklusyon While the indicators showed bearish momentum and selling pressure had been strong in recent hours, there was a good likelihood that MATIC can see a bounce toward $1.65 in the next few hours. Bitcoin was also trading just above a demand zone