Price Analysis

Polygon(MATIC) Price Unaffected With The Bitcoin Price Plunge

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Highlights

    Matic price single handedly attempting to keep up the entire crypto space as the majority of the assets bleed

    With a surge of more than 15%, Polygon portrays itself as one of the fruitful investments ever

    The asset successfully entered the top 15 cryptocurrency list leaving behind Solana and Stellar

Price Independant of BTC & ETH Dip

The bitcoin price slashed drastically below $40k in the early trading hours, dragging almost the entire crypto space. Most of the assets including Ethereum price plunged mercilessly below $3000, yet attempting hard to recover. Amid the bloodbath on the streets, Matic remained unaffected, sustaining above $2 and surging towards $3.

With the continued bullish trend, Matic may outpower many other cryptos which are more dominant than itself. Moreover, Polygon is looked upon as the chainlink of layer 2 scaling domination. And as said by one of popular analysts, Lark Davis, Matic will keep the Lion’s share in the market, despite other assets trying to grab some.

Moreover, the analyst also predicted that Matic and Solana based tokens will be the next big movers in the crypto space. With the extended bull rally, the price may hit $3 shortly and also reach the milestone at $5 very soon.

Polygon Price Analysis

Matic price in the recent days surged by more than 100% showcasing a strong tendency to smash the higher levels above $3. The price trended in a very narrow channel for a couple of days before it raised high and smashed the milestone above $2.

The price is currently testing the 20-day MA and a strong rebound may lead to a massive price surge. However, the bulls appear to have capitulated the market. As despite bears trying hard to drag the price, it recover quickly within no time.

matic

At the time of writing, the Matic price is $2.31 with a jump of nearly 8.39% in the past 24 hours. The RSI had dipped to a certain extent, yet flipped and surged high above 59, indicating an uptrend. 

Currently, the prime focus would be to break the upper resistance levels at $2.64 and surge high. The support levels at $1.8 seems to be weak and revisiting these levels may end up lowering to $1.5 levels. 

However, the market sentiments for the Polygon price remains extremely bullish with the indicators pointing towards a buy signal. Therefore, a massive breakout for the Matic price is fast approaching as the price is poised to hit $5 very soon. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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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