Price Analysis

Polygon (MATIC) Price On A Rise, Could Make It To $3 Comfortably!

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Highlights

    Matic price comfortably breached the barriers to hit $2 after waiting for a long time and sustaining multiple rejections.

    The asset is aiming at another 5x rally that may uplift the price beyond $3 as the next target amid the discovery phase

The rounds of the Bitcoin ETF launch and the Ethereum ALTAR upgrade of the crypto market just flipped the bearish divergence. The major crypto assets faced a notable jump including major altcoins including Polygon. MATIC price successfully sliced through the crucial levels and marked a notable uptrend above $2. 

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Polygon is well-known for its strong fundamentals and multiple collaborations. Despite being fundamentally strong, yet it could not impact the price as it maintained a silent trend for an extended period. The current uptrend appears to remain unstoppable until it reaches a specific level. Interestingly these levels reside at much higher levels above $3.

Also Read: Note This Entry and Exit Points To Trade Ethereum! ETH Price To Hit $20k!

polygonprice
Source: Tradingview

The weekly chart of the asset showcases that the price is trending within a ‘W-shaped’ pattern for the past couple of weeks. However, the current weekly candle just broke through the symmetrical triangle first and also the neckline of the ‘W-shaped’ pattern. It tested and broke successfully the crucial resistance levels around $1.7 and flew high above $2. 

Currently, after achieving the monthly highs, the MATIC price initiated its trend around 0.7 FIB levels. The next levels are around 1 FIB levels that are at $2.1 and the 1.272 FIB levels are formed at $3.433. And hence the probabilities of Polygon price reaching these highs are at the larger end. Therefore, the upcoming altseason 2021 may be the most successful one with more and more small-cap altcoins registering splendid rallies.

Also Read: Cardano Price On the Verge of Monstrous Rally? Here’s When

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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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