Polygon [MATIC] saw a breakout past the highs of a range that was almost two months old. The MATIC token was in the process of being replaced with the POL token with added functionalities. All MATIC tokens will be converted to POL in a 1:1 ratio. A previous price report of MATIC by AMBCrypto highlighted the $0.6-$0.61 as an attractive pocket of liquidity for the bulls. Has the rejection from the $0.65 mark changed the bullish bias of MATIC? The four-hour market structure had been bullish, with the most recent higher low at $0.614. A few hours before press time, MATIC prices dived lower and signaled short-term bearish intent. In the $0.57-$0.59 sat a twelve-hour bullish breaker block.
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