MATIC breaks out yet another range, what are the next targets?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. MATIC broke out of a short-term range. The next area of interest lies at the psychological $1.5. Polygon saw increased activity in the DeFi space in recent days. Its native token MATIC also had […]

fell beneath the $23k mark. Alongside BTC, many altcoins saw a lower timeframe bearish market structure break. MATIC was not one of these assets. Is this a sign that MATIC will rally hard in the event of a bounce in BTC prices?Source: MATIC/USDT on TradingView

This price expansion alongside volume increase was a strongly bullish sign that MATIC is one of the stronger assets in the market. This indicated an uptrend in progress. The indicator agrees with the series of higher lows that MATIC has formed since early January.The Open Interest saw a strong surge as the price broke past the $1.26 resistance. This signaled capital flow into the market and bullishly positioned market participants. The spot CVD, which had trended downward from 2 February, remained flat in the past couple of days.

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