Altcoins

MATIC Price Poised For An 60% Upswing, How Soon Will It Hit $2?

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Polygon(MATIC) price that amazed the crypto space in early 2021, had absorbed a falling momentum of-let. Despite multiple attempts to regain the lost positions yet the price was overpowered by the bears. And hence remained nearly 60% to 70% below the ATH until a substantial boost escorted the price with a 25% jump.

Currently, the price is on the verge to test the immediate resistance levels at $1.17 after breaking the descending channel. After hitting the monthly lows around $0.62, MATIC price rebounded and surged nearly 84% to attain the current levels above $1.09. However, the price appears to have gained enough momentum to range towards the upcoming resistance levels.

Also Read: Polygon Launches NFT game studio! MATIC Price is Nearing the $1 Mark

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The price despite an acute sell-off maintained above the trend line, failing to plunge further. The price calculated by the trading view has already jumped more than 18%. And further, an aggressive rally may hit the pivotal levels around $1.27 in order to confirm a bull run. No doubt pullbacks are inevitable, yet the bulls will manage to keep up with the uptrend.

The significant barrier lies at $1.5 which could ascertain the uptrend and push the price to $1.74. Interestingly, the current 80% march in the past couple of days was put in place with a reduced volume. Therefore, an induced volume could easily rally the MATIC price not only above $2 but also extend to $5 in the coming months. 

Also Read Chainlink and 7 More Altcoins Poised For Massive Breakout! Analyst Maps The Direction

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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