Price Analysis

Bulls Reclaim Their Positions, Polygon(MATIC) Price Now Aims at A 20% Spike In next 24 Hours!

Written by: Sahana Vibhute

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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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Mar 10, 2022

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Highlights

    MATIC price which had lost its grip and fell down from the safe zone is yet again attempting to range high

    With a generous boost, the Polygon price aims to smash $1.7 gearing up more than 20% in the next 24 to 48 hours

MATIC price lost the $2 price zone during the mid-February slash which slashed more than 20% of its value. This plunge dragged the price below the strong support levels and despite multiple attempts, the price remained beneath these levels. However, the Polygon price regained significant bullish momentum which avoided the price to leap below the crucial levels. Yet the next move of the asset appears to be pre-determined which aims at $1.7 levels. 

The MATIC price which is swinging around $1.433 may initially try to smash $1.5. These levels are pretty important for the asset to maintain a significant uptrend. However, the asset has attempted a couple of times before, yet failed to do so. Therefore, significant entries may be expected at these levels is achieved. Hence paving way for the asset to achieve $1.7 slicing the crucial resistance at $1.69. 

Also Read: Bitcoin Primed to Breakout on 28th March, BTC Price May Hit $50K Very Soon!

The MATIC price is currently trading within a symmetrical triangle for a pretty long time. Moreover, the price has yet again formed a narrow trend zone within the triangle in between $1.529 and $1.405. These levels are pretty important that may decide the upcoming price action of the asset. If the MATIC price slices through the $1.529 levels, then it may range high to achieve the $1.7 levels slicing through the crucial resistance at $1.69. 

On the contrary, if it fails to hold above the interim support at $1.405, then it may be extremely difficult for the asset to cope with the bullish trend. Eventually, resulted in yet another correction and flips from the lower lows. This may continue until and unless a huge influx of buying volume, more than that of the present day, floods in. Therefore, the upcoming couple of hours may be extremely important for the asset to decide the next leg. 

Also Read: Thorchain(RUNE), OMG Network(OMG) Synthetix (SNX), Decouple From the Market Sentiments To Surge High!

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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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