Polygon is now below the long-term resistance line, while MATIC is moving along the short-term resistance line, remaining above the horizontal support zone.

On a weekly timeframe, the MATIC price reached a historic high in December 2021 and moved down along the descending resistance line. The recent low was recorded in June 2022 at $0.32. Despite the rise after this low, the MATIC price is still below the descending resistance line. Since the beginning of November 2023, the token has made four unsuccessful attempts to break through the bull market, after which it rolled back.

The Relative Strength Index (RSI) is declining on the weekly chart, but is still above 50, indicating an uncertain trend.

The Polygon team has announced a discord meeting where the benefits of the AggLayer solution will be discussed. AggLayer is designed to combine different blockchains without the need for bridges and is scheduled to launch in February this year.

The forecast for MATIC on the daily chart is also bearish. MATIC has been declining under the downward resistance line since the beginning of the year. The recent rebound from this line and the RSI below 50 indicate a bearish trend.

Nevertheless, there is hope for a bullish breakout of the trend line, which could lead to a 35% increase in Polygon to the $1.05 level, despite the current bearish forecast. At the same time, it should be remembered that the MATIC price is above the horizontal support zone of $ 0.72, and its breakout can cause a drop to $ 0.60.