MATIC/USDT Polygon ( MATIC tickers down $0.7354 ) failed to break above the downtrend line on Oct. 10, indicating that bears continue to defend the level with vigor.
That may have attracted profit-booking by short-term traders, which pulled the price below the 20-day EMA ($0.80) on Oct. 11.
Source: TradingView Buyers are trying to arrest the decline and push the price back above the moving averages.
If they do that, the bulls may make one more attempt to clear the overhead hurdle at the downtrend line.
The repeated retest of a resistance level tends to weaken it.
If the price breaks and sustains above the downtrend line, the MATIC/USDT pair could attempt a rally to $0.94.

Source - Coin Telegraph
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