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Polygon (MATIC) Price Done With Accumulation, Is $1 Programmed?

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Highlights

    MATIC price scrambled to bearish divergence since it smashed the ATH and entered accumulated phase with less variation

    Amid the accumulation, it was rejected a couple of times when it attempted to fly high above $0.8

    The price may surge high in coming couple of hours as the price seems to trend in a decisive phase

MATIC Price To Hit $1.5 By End of May

Polygon(MATIC) price gained mainstream attention when it rose like a giant since the beginning of February. Many jumped in the ecosystem and partnered with the Polygon Network and strengthened the platform. This impacted the price positively and hence the price rallied very close to $1, but dropped back.

Nevertheless, the price sustained strongly above the support zones above $0.7 and traded in a very narrow region since the start of May. Moreover, the price is expected to hit $1 very soon and rally hard. According to a popular analyst Young and investing, MATIC price may hit $1 by the end of May.

The analyst also predicted the price of other cryptocurrencies like Bitcoin, Ethereum, Chainlink and Polkadot. Bitcoin price however is close to surpass $59K and eventually hit $60K soon. Therefore $70K seems to be a little tough yet achievable target for the next 20 days.

Also Read: Safemoon Price Going Parabolic, Will It Have A Doge Rally?

Polygon Price Analysis

Matic price scrambled to the lowest levels around $0.35, yet gained a huge bullish momentum and rose magnificently. However, after smashing the highest levels close to $0.9450, the price tanked, yet maintained strong above $0.7 levels.

The recent price movements suggest that the price might have done with the accumulation and all set to explode very soon. The price is surging towards the upper wedge of the ascending triangle and a breakout may lead the price towards $1.

matic price chart

At the time of writing, the Matic price is $0.7706 with a slight drop of 0.05% in the past 24 hours. However, it requires to test the upper resistance levels at $0.797 and avoid tanking towards the support levels at $0.7453. However the indicators for the Polygon’s Matic price points out towards a buy signal.

Also Read: Dogecoin May Soon Flip BNB! What if DOGE Price Hits $1?

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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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