Why MATIC is all set for a potential rebound from this defending zone

ambcrypto.com:

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

The recent buying endeavors pushed Polygon [MATIC] above the constraints of the 20 EMA (red) and the 50 EMA (cyan) as the price reentered its sideways track in the $0.77-0.93 range.

The bearish flag marked an expected breakdown toward the $0.73 zone. The eventual bullish comeback aided the buyers in altering the near-term narrative to their fancy.

Here’s AMBCrypto’s Price Prediction for Polygon [MATIC] for 2023-24

The altcoin has now approached the upper band of the Bollinger Bands (BB). The sellers could seek to curb the streak of green candles before a reversal in the coming sessions.

At press time, MATIC was trading at $0.8615, up by 5.15% in the last 24 hours.

A potential of a golden cross, can MATIC bulls sustain a rally?

Source: TradingView, MATUC/USDT

After an expected reversal from the $0.93 resistance barrier, the alt saw a death cross on its EMAs to depict a strong selling edge.

Nonetheless, the recent rebound from the $0.77 support induced a buying rally toward the upper band of the BB.

MATIC’s solid double-digit growth in the last four days aided the alt in retesting the $0.87 resistance barrier. With the 20/50 EMAs now looking north, buyers should look for plausible bullish crossovers.

Continued growth on the charts could slam into the barrier of the 200 EMA followed by the $0.93-mark. 

An immediate bearish pull would likely find rebounding grounds from the trendline support. This rebound could bring forth profitable entry triggers for the buyers.

The Accumulation/Distribution (A/D) witnessed lower peaks over the last few days. This trajectory bearishly diverged with the price action’s