Price Analysis

Matic Price Nurtures the Uptrend Eyeing New Record High! What Next?

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The cryptocurrency market is currently enduring an uptrend as many of the currencies are intensifying including the top currencies like Bitcoin and Ethereum. The dominant currency Bitcoin is still in a rally to rebound to its previous high of $58,000 and at a press time is trading at $56,675.48. Apart from this, MATIC is one of the major currencies which is significantly encountering the bullish run.

MATIC Price has soared to above 60% over the last 24 hours. The other currencies like SUSHI, CHZ, MKR, DCR, NEAR, TFUEL have also obtained up to 30% momentum in the past 24 hours. 

The global crypto market has increased above 1% over the past 24 hours with a market capitalization of $1.72 trillion. 

MATIC Price Analysis

The MATIC price has been skyrocketing over the past few days. It is currently under the constraint of bulls as it achieved above 60% momentum in the last 24 hours and listed a new all time high on 11 March by surging to $0.50. One of the causes for the surge might be the MATIC’s partnership with the Polkamarkets to address the gas fees. The currency consolidated between $0.22 and $0.30 before the extensive price surf. 

MATIC chart

Significantly, MATIC could swell to $0.85 if it successfully manages to be stable without any variations and surpass a resistance level at $0.68. The superior support levels are $0.30 and $0.38. The relative strength index resisting above the 80 which strongly indicates the bullish divergence.

The MACD heavily indicates the bullish crossover as the MACD line is escalating above 0.06 points and the histograms are moving up by coating green.

The Parabolic SAR indicates the bullish rally as the dots are plotted below the candlesticks.

At a press time, MATIC price is $0.45 with 24 hours trading volume of $2,450,820,313. It is up 57.03% in the last 24 hours. The market capitalization is $2,279,613,801 and the current coinmarketcap rank is #44.

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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.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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