Polygon (MATIC) has been trapped in a two-month range, defying the positive outlook. Despite Bitcoin's surge above $70,000, MATIC failed to break out, leaving investors wondering what June holds.

MATIC's price action reveals a struggle to gain momentum. After hitting historic highs in February, it found support at $1 in March but fell to $0.6 due to Bitcoin's decline. The current range, marked by purple lines, is between $0.75 and $0.62, with a midpoint of $0.685. The daily RSI value, below 50, indicates a lack of momentum for a rise. However, a rising OBV value could signal a breakout.

The resistance level stands at $0.75, with liquidity pools at $0.762 and $0.8. If the consolidation ends and prices rise, a move to $0.8 could trigger a reversal. Investors should exercise caution, considering the resistance zone between $0.75 and $0.8. Will MATIC break free from its downward pressure? Only time will tell.