Matic Price May Not Hit ATH At Once
The matic price raised everyone’s eyebrows with a giant-like rally in the past week. The price smashed $2 comfortably, moreover $3 was appearing imminent. Woefully, the bearish trend initiated and dripped the price of most of the assets by 50%. Since then, the matic price rally slowed down and was awaiting for a boost.
No doubt, the price regained its position above $2, yet it remained for a while and the price slumped back below $1.8. The price does not show the signs of hitting the ATH at once as more consolidation is underway. Moreover, currently, one can expect only a lower high as predicted by a popular analyst Altcoin Sherpa.
However, one the polygon price is done with the consolidation, the short term target may be around $3.3 to $3.7, once done $5 may be imminent.
Have The Bulls Gone Into Hibernate Mode?
The bulls who were very active in the past week and built a strong bullish momentum, appeared to have slowed down a little. The Bitcoin price crash dragged the entire crypto space, incurred losses in millions, yet matic appeared to sustain the crash.
Nevertheless, the crash dragged the Matic price too, yet bounced back above $2 within a few hours. But the price slides down yet again below and currently struggling hard to maintain above $1.8.
The trading volume also appears to be in a structured way and hence the possibilities of the price touching lower levels are low. Therefore, in the coming couple of days, the price may maintain a sideways trend and consolidate before the next leg up.At the time of writing, the MATIC price is $1.79 with a drop of 3.51% in the past 24 hours.
- The resistance level is at $2.17
- The support level is at $1.55
- The indicators for the Matic price points out at a buy signal