MATIC is trying to overcome its previous obstacles again. The weekly chart shows that since reaching a historic high in December 2021, MATIC has been declining along the downward resistance line and reached a low of $0.32 in June 2022. However, after that, an upward movement began, and MATIC made three unsuccessful breakout attempts, the last of which occurred last week. Currently, this long-term trend line has been in place for 720 days.

The Relative Strength Index (RSI) is rising and is above 50, indicating a bullish trend.

Analysts on the X platform express positive ratings for MATIC. Buy Dip Crypto believes that the price can start a parabolic rise only after breaking the long-term resistance line.

Masha also expressed optimism about MATIC due to the growth of staking, despite the price reduction. This shows the trust of the community and predicts a positive future for the staking ecosystem.

The weekly chart shows a bullish trend, but there is still a bearish forecast on the daily timeframe. MATIC returned to the $0.85 level after trying to break above it. There are signs of bearish divergence on the daily RSI, which may portend a bearish trend. A close below $0.85 could trigger a 13% decline to the $0.74 support level.

On the other hand, a rise above $0.85 could lead to a 45% increase to the next resistance level of $1.25.