Price Analysis

Polygon(MATIC) Price Dips! Will The Rally Continue Towards North?

Highlights

    Matic price after a spectacular recovery, drops significantly placing misty clouds over the bull rally

    The price is expected to visit more lower levels before ascending with greater margin to form new highs shortly

Polygon(MATIC) price in recent times manifested a huge bullish momentum with a quick recovery in a very stipulated time frame. However, the entire crypto space despite a notable comeback has yet again scrambled down to revisit lower lows. And Polygon is also following the suit.

The price in the past trading day, performed well and many expected the asset would stand strong above $2. However, with a new trading day, the price initiated dipping profusely. And currently continues to do so without any brakes applied. Moreover, the price is expected to drop still more before a massive breakout as predicted by an analyst RESEARCH 24/7.

As per the chart put up by the analyst, the price is expected to drop as low as $1.72 in the next couple of days. And eventually gather huge momentum and strength to propel high with more than 20% rally. Nevertheless, the target set by the analyst is above $3, somewhere around $3.23. 

Also Read: MATIC Price Skyrockets! Polygon Network Secures Mark Cuban’s Backing!

Matic Price Yet Skeptical 

The price currently is plunging heavily and marked a 20% dip in the present trading day with a huge drop in the trading volume of about 42%. The decreased activity over the platform may be either due to the impact of any external factors or uncertainty with respect to the regulation, or the shift of focus of the traders to new projects. 

Interestingly, the entire crypto space is painted red and continuously losing its value more or less similar to the Matic plunge. However, considering the further rally, the price may either trend within a narrow region in between $1.8 to $2 for another couple of days and jump straight to $3.

Else, the price may showcase an extreme uptrend in the next couple of days and surge towards $2.5 to $2.7. The price may consolidate for a while in these regions for some more time. And eventually may experience a downfall towards the previous levels around $1.9. Therefore the upcoming 24 to 48 hours may be very crucial for Polygon or Matic price that may decide the further rally. 

Also Read Polygon Network Outperformed all its peers! MATIC Token Primed Enter Top 10

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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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