Price Analysis

Polygon (MATIC) Price to Surge Soon, Yet New ATH is Far Away!

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Highlights

    Matic price is on the path to regain the positions close to the current ATH very soon

    The multiple integrations manifests Polygon as Ethereum layer 2 scaling solutions

More Integrations on the Way!

The Polygon network in the present times has been in the rounds for the developments to scale the ETH layer 2 and DeFi. The Matic price rally rose magnificently with the asset listed on the most popular exchange Coinbase. However, very soon it entered a consolidation and flipped the bears to enter an uptrend.

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In recent times, many integrations with Polygon have caught the spotlight. However, the integrations continue with Decentraland, Aave and Pool would rally the scalability of matic to the next level.

The analysts, Lark Davis, also hopes that the leader in Decentralized Exchange, Uniswap exchange may also integrate with the platform. As the fees on the Polygon network are just a fraction of a penny, it might give a solution for the high gas fees of Ethereum network.

Matic Price Analysis, Is $1 Imminent?

The recent spike that rallied suddenly close to $0.5, entered a long consolidation phase. Woefully, the price was dragged down below $0.3 yet recovered within no time. The most fresh spike was also presumed to rally the price high above the current ATH,  yet failed to do so.

However, a series of pumps and dumps, the price chart successfully managed to grab a bunch of green candles, due to which the price rallied close to 2%. 

matic price rally

The indicators also manifest a bullish trend as the RSI indicator is slowly moving towards the north. The MACD indicator which is diverting apart with the fresh surge is indicating a buy signal as the MACD line is crossing the signal line.

matic indicator

At the time of writing the Matic price is $0.3735 with a jump of 1.07% in the past 24 hours. However, a good boost can be applied only when there is a drastic increase in the trading volume which has dipped by 26.84%. Yet the market capitalization has surged with a small margin of 1.06% to stand at $1,870,751,789.

Technical Specifications

  • The resistance level is at $0.4215
  • The support levels is at $0.3585
  • The indicators for the Matic price points out at a buy signal

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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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