bullish

Memecoin

POPCAT

Gains

<ul class="wp-block-list">
 <li>Key support holds at $0.3060; breaking the $0.3300 resistance could lead to $0.3500.</li>
 <li>Bullish moving averages and high RSI indicate a potential for $MATIC</li>
</ul>
Polygon’s MATIC token is riding high, buoyed by the <a href="https://thenewscrypto.com/pro-crypto-candidates-lead-in-2024-us-election/" rel="noopener noreferrer nofollow">recent </a>outcome of the U.S. presidential election. Currently trading at $0.3279, MATIC has gained a solid 9.61% over the last 24 hours, pushing its market cap to an impressive $861.53 million.&nbsp;
Trading volume has also surged, with a notable 108.49% jump to $17.46 million, as traders respond to the election win of pro-crypto candidate Donald Trump. His victory has energized the broader crypto market, pushing Bitcoin to a new all-time high and lifting prices across the board, including for MATIC.
Many traders see it as a positive sign for crypto-friendly policies, and this sentiment has fueled bullish momentum across major cryptocurrencies, including Polygon’s MATIC. With more people jumping in on the action, trading volumes and prices are climbing, creating a green wave in the market.
<h3 class="wp-block-heading" id="h-moving-averages-and-crossover-reinforce-the-uptrend">Moving Averages and Crossover Reinforce the Uptrend</h3>
Looking at MATIC’s <a href="https://www.tradingview.com/chart/my4E0xUN/" rel="noopener noreferrer nofollow">technical chart</a>, the signs are mostly positive. MATIC has solid support at $0.3060. As long as MATIC can hold this level, the recent gains should be safe. On the other hand, MATIC is also facing resistance at $0.3300. If it manages to break through this level, it could open the door for a run toward $0.3500, sparking even more optimism among investors.
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="472" src="https://thenewscrypto.com/wp-content/uploads/2024/11/MATICUSDT_2024-11-06_17-30-26-1024x472.png" alt="" class="wp-image-112967" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/MATICUSDT_2024-11-06_17-30-26-1024x472.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/11/MATICUSDT_2024-11-06_17-30-26-300x138.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/MATICUSDT_2024-11-06_17-30-26-768x354.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/11/MATICUSDT_2024-11-06_17-30-26-1536x708.png 1536w, https://thenewscrypto.com/wp-content/uploads/2024/11/MATICUSDT_2024-11-06_17-30-26.png 1814w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
One key indicator is the Relative Strength Index (RSI), which currently sits at 71.00. This places MATIC slightly above the typical overbought level, suggesting strong buying interest but also indicating a potential pullback if demand slows. The 14-day RSI average, at 41.60, reflects the recent surge in buying, pushing MATIC into bullish territory.
Moving averages are also aligning in MATIC’s favour. The 9-day moving average has climbed above the 21-day moving average, indicating a bullish crossover, which traders often view as a sign of further upward movement. The 9-day moving average is currently at $0.3060, with the 21-day just below it at $0.3020.
These averages sit below the current price, reinforcing the $0.3060 support level and confirming the short-term upward trend. This bullish crossover adds another layer of support to MATIC’s recent price gains. If market enthusiasm holds steady, these averages could act as a buffer, keeping the price from dipping too low even if there’s a slight pullback.
Highlighted Crypto News Today <a href="https://thenewscrypto.com/goat-neiro-and-popcat-dominate-the-memecoin-market/" rel="noopener noreferrer nofollow">GOAT, NEIRO and POPCAT Dominate the Memecoin Market</a>

MATIC Surges as US Election Sentiment Fuels Further Gains

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