The price of MATIC has been both a strength and a frustration over the past 2 months.
The is a key support area from 1.35 to 1.45 that has thankfully held over and over again.
However, each test and bounce off that level has become shallower and shallower. The most recent bounce off the support is creeping up toward the high of the previous bounce.
It will be interesting to see if we can get a push or if the range will tighten even further.
Cement Floor....
When you look at the chart you can see that 1.35 area support has been acting like a bedrock, but unless price can finally push higher it leaves you to wonder how many times the level can be held.
Ideally we see price push up to 1.70, surpassing the last high and lining it up for a run at 1.90.
In the end, a lot of it has to do with what bitcoin does. Bitcoin is flirting with the top of it's current range. A breakout would likely lead to a push in alts as seen over the years.