Price Analysis

Polygon Ready To Explode, MATIC Price Poised For A 30% Upswing!

Written by: Sahana Vibhute

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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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Jul 29, 2021

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Highlights

    MATIC price after 25% rally is ready to undergo yet another similar uptrend and could also smash $1.2 levels soon

    The path to $2 could be more clear if the price successfully hits and sustains above specific levels

The crypto markets are on the path of recovery as the Bitcoin price could register a daily close with a bullish green candle. Other assets like MATIC price after shedding more than 50% gains from their ATH, appears to have reversed the trend. The Polygon price would always be at the top if all the assets compete to have a faster recovery. 

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No doubt, the asset is still more than 50% away from its current ATH, yet it carries huge potential to bounce with a huge margin. The price in the past couple of days has been recorded a couple of huge green candles that uplifted the price above $1. Despite a slight pullback below $1, the price quickly regained the levels in a short time frame. 

Also Read: Here’s When The Details on Hinman’s Deposition Will Be Out, How Will XRP Price Be Impacted?

polygonchart

As the bulls gain major control, the price could also propel high as the accumulation phase may soon come to an end. With an increased volume and a growth in substantial buying pressure, the price could eventually break the symmetrical triangle. The outcome could be the testing of the immediate resistance levels at $1.12. And later followed by a spike to next levels around $1.27. 

However, as the selling pressure mounted with a slight jump, a notable plunge could also hinder the polygon price rally. In such a case, a significant dip may also be witnessed. In extreme scenarios, the MATIC price may also rally below $1. Yet like most of the time, the price could set a massive recovery like a giant. 

Also Read: Bitcoin Price Stood Bullish 8 Days Straight, A Dump-Week May Be Waiting Ahead!

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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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