Price Analysis

Polygon(MATIC) Price Fighting Towards its Resistance, Is The Path Towards $3 Clearly Visible?

Written by: Elena R

Written by right arrow

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.

  • author twitter

Dec 10, 2021

news-image
Highlights

    MATIC price after a minute sell-off has yet again initiated with a notable uptrend, showcasing immense possibilities of forming an ATH very soon

    Indicators point out a short-term bearish reversal, yet the price displays a strong bullish momentum to propel towards the next highs

    The asset appears to be poised to undergo a notable uptrend as the bears remain off the track

The crypto space for a couple of days is following a trend of being bearish during the early Asian trade hours and bullish in the last few hours of trade. And hence most of the altcoins including Polygon price are attempting a notable rebound. Moreover, the current recovery initiated well above the support levels, and hence the MATIC price could smash its ATH any time from now. 

Advertisement

The Polygon platform since the beginning of the current trading month has received a notable influx of liquidity which assisted the price to sustain above $2. As Coinpedia predicted earlier, MATIC price broke through the $2.2 resistance levels and is doing its best to sustain above these levels. However, following the recent jump, only a single barrier persists between the current levels and the ATH.  

Polygon(MATIC) Price Analysis in Long-Term

  • The MATIC price is manifesting a bullish trend, following a notable uptrend ever since the asset flipped in mid of July
  • The correction phase appears to have been a short-lived one as the pretty huge green candle has flipped the bearish divergence.
  • Interestingly, the trading volume has spiked and remained at higher levels since the beginning of the current trading month
  • Therefore, the uptrend is expected to continue towards the $2.6 resistance levels as the buyers remain at the higher-end while sellers find to make their way out

Short-Term Price Analysis Of Polygon(MATIC) Price

  • The MATIC price is hovering in between the strong resistance and strong support levels for quite a long time.
  • Bollinger bands despite experiencing a squeeze appear to be unsure of being decisive for the next leg up. However, the price is heading towards the upper band and hence a notable surge may be fast approaching
  • However, a small pullback could be hindering the bull rally to drag the price just below $2.2, yet it may be a short-lived one.

Collectively, Polygon is regaining its faded popularity nowadays as the asset is attempting to go parabolic and form a new ATH very soon. The MATIC price swinging within the resistance and support levels for quite a long time exhibits an extreme bullish rally in the long term. 

Show More

Was this writing helpful? myImage dislikeimage

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.

Related Articles

Back to top button