Price Analysis

Polygon Price Recovered Nearly 60% Of Losses, While BTC and ETH Strive

Highlights

    Polygon price’s fastrack recovery has been the spotlight of the entire crypto space as the price rallied high

    The strong fundamentals of theMatic network led the price rally more than 20% a couple of times since the price crash

Polygon price overcame the trembled situation in a much smaller time frame, rallying more than 5000% in the past one year. With an increase in the weekly users, transactions and volume, Matic price has determined to be listed as one of the best investments of all time in the entire crypto space. 

The recent price crash dragged the Bitcoin price close to $30,000 and Ethereum price below $1800 in no time. The top 2 assets are yet attempting hard to surge towards their respective positions before the drop. However, Matic price has already recovered more than 60% of the loss and may smash the ATH close to $2 soon.

Also Read: Are You Buying Or Selling Bitcoin, Know What Analyst Thinks!

matic jump

Matic price initiated with a huge correction after it smashed its ATH around $2.5 and dipped to the lowest levels around $0.8. While the other altcoins, including Bitcoin experienced a second round of drop, Matic price too maintained a descending channel.

However, the price initiated with a recovery from the early trading hours and spiked without any pullbacks. At the time of writing, theMatic price is $1.52 with a massive jump of 67.17% in the past 24 hours. Currently, the prime focus would be to surpass the $1.5 pivotal zone and strongly sustain to keep the bullish momentum intact. 

Technical Specifications

  • The resistance level is at $2.15
  • The support level is at $0.8
  • The indicators point out towards a buy signal

Also Read: XRP Price Poised To Rebound Soon, How High Will It Rally?

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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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