Price Analysis

MATIC Price May Face A Drop, Yet A huge Wave Impulse With 40% Upswing is Imminent!

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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Dec 3, 2021

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Highlights

    Matic price resides over $2 after a notable surge and attempting a breakout through the crucial levels

    The asset could follow a slow yet steady rally in order to reduce steep plunges or drains and range high towards $3

The MATIC price ever since ranged high to hit ATH at $2.7 quickly dropped significantly. Despite attempting to march & sustain above $2, it failed on many occasions. However, the asset went parabolic to test the crucial resistance levels yet again. And at the press time, the Polygon price is attempting a breakout that appears imminent. 

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Polygon had attempted to break through the $2 resistance in October yet failed. Yet the asset bottomed at $1.5 and flipped the bearish divergence. Ever since then the asset is ranging within an ascending channel, attempting a break-out. The breakout from the resistance levels and sustaining strong above $2.2 could confirm an uptrend. 

Polygon after hitting highs at $2.7, plunged drastically and since then the price went parabolic to again test the highs at $2. Despite a couple of rejections, the MATIC price successfully sliced through these resistance levels and is currently in an attempt to sustain above $2.2. Yet the RSI points out a possible pullback in the upcoming days. And hence in such a case $2.097 is the crucial level to hold. 

However, the bearish trend appears to be well out in place as the bulls appear to have gained back control. At the press time, the MATIC price stands at $2.24 with a 4% jump and nearly 16% distinct from its ATH. Currently, the trading volume has dipped a little and hence the price may not spike but could undergo a silent uptrend. Yet the $3 target still appears achievable in the next couple of days, yet by the EOY, the Polygon price may range high to test a higher target in between $4.4 to $4.8. 

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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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