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Polygon (MATIC) Price Could Form New ATH Above $3 With Nearly 200% Gains

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Highlights

    Polygon bounced with a nearly 20% jump in the past trading day and added up yet another 13% with the fresh day surge

    MATIC price had lost the plot in the past couple of months amid the heavy sell-offs and constant downtrends

MATIC price had lost the plot in the past couple of months amid the heavy sell-offs and constant downtrends. After spiking to its highest levels around $2.8, the price slides down to around $0.6 within a couple of months. The rally which aimed to hit $3 remained incomplete, yet could however happen in the coming days. 

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The price regained the bullish momentum since the mid of July which accelerated from the beginning of the current trading month. However, the price remained more or less consolidated until a wider push fuel the rally above $1.3 levels. After smashing the immediate resistance levels at $1.3, the asset seems to have an uninterrupted rally ahead. 

Also Read: Popular Crypto Analyst Reveals Year-End Targets for Bitcoin and Ethereum

With the intention to hit the higher levels, Polygon has initiated yet another rally that could halt only after it achieves the milestone. However, the moment could appear anytime, the predictions point out towards a massive rally waiting ahead. An analyst has marked much higher targets for the price and believes the price could even reach $5. 

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The analyst marks the Fibonacci levels and the upper target is set at 127.20% Fibs levels at $3.5 with a massive 200% gain. The asset signalled a buy as the EMA crossover SMA. Also, it confirmed the Bottom & Reversal in price that could rally to the May highs around its ATH. 

Polygon well known as MATIC appears to be self-assured to pierce through the upper resistance levels and propel higher. In the meantime, the bulls also could aggravate to keep the uptrend intact. And therefore achieving the levels above $3 or $5 could be with minimum effort. 

Also Read: Cardano Price Skyrockets! ADA Price set to Hit $2, With Introduction of New Token Type

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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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