In recent days, the cryptocurrency market has been consolidating, leading to corrections in major cryptocurrencies. This situation presents opportunities for short-term trading.

Polygon's MATIC is one such opportunity. After experiencing a significant drop in mid-March, MATIC has been fluctuating between $0.94 and $1.06. Buyers have supported the price at $0.94, but resistance at $1.06 has prevented further upward movement.

Currently, MATIC has fallen back to the $0.94 support level, providing a window for traders to ride the price back up to $1.06. Indicators on the chart suggest that there is buying pressure at $0.94, making it a potentially profitable trade.

In addition, futures market data indicates that long positions are dominating, indicating confidence in MATIC's ability to recover from the support level.

Overall, the outlook is bullish from $0.94, but a close below $0.94 would invalidate the setup, with a suggested stop loss at $0.85.

Please note that this analysis is not financial advice, and traders should conduct their own research before making decisions.

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