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.
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.
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.