MATIC is on a strong uptrend, buyers can re-enter at...
has performed remarkably well in recent weeks. The evidence at hand showed further gains were likely, although a pullback could offer better rewards for buyers.As things stand, MATIC might not see a retracement back to $1.3. The RSI showed strong bullish momentum and the OBV was also making a series of higher lows.
On the other hand, a pullback to the $1.3 area would be certain to interest longer-term MATIC buyers. This was because of the presence of an imbalance on the charts on the daily chart, highlighted in white. The bullish order block at $1.18-$1.23 would be a more precise location to await lower timeframe bullish market structure breaks before buying MATIC.In early November, the rally to $1.3 was followed by a sharp rise in the 30-day MVRV ratio. This showed short-term holders sat atop a large profit. At the time of writing as well, the rising MVRV indicated much the same.
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