Price Analysis

MATIC Price Eyes A 60% Upswing! Will This Surge Uplift The Price To $3? 

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Highlights

    Polygon testing decisive phase, a breakout appears to be imminent in order to maintain a substantial uptrend

    The target $3 appears to be pretty achievable as the asset gears up, hinting more higher levels to be achieved soon

Polygon, with its silent trend, has, however, departed from the top 15 cryptocurrency list. However, the MATIC price without being much silent is gearing up to regain the lost positions above $2. Interestingly, the rally could even be more intense in order to achieve higher levels close to $3 too in the coming days. 

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The price has experienced a notable uptrend since the early trading hours with a notable surge in the trading volume of about 63%. Moreover, the liquidity influx witnessed a spike since the past week and currently reached $1.5 billion. Also with the increase in the daily active addresses, the asset successfully regained its positions within the top 20 crypto assets.

Also Read: People Sold Their Bitcoin & Ethereum For Shiba Inu!! Will It Be Worth?

polygonchart
Source: Tradingview

The price in the recent past had bottomed hard and the level $1 appeared to be at stake. Yet a strong bounce since the beginning of the present trading month uplifted the price above $1.6. Therefore, trending the price within an ascending triangle, and testing the crucial resistance levels. 

Matic price could break through these levels and head towards the $2 target levels. However, the price may retest a little and plunge back to the resistance levels around $1.772 and rebound beyond $2 to hit $2.4. In short, the Polygon price is required to break the super bullish ascending triangle in order to rally more than 70%. 

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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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