Price Analysis

Polygon- The Sleeping Gaint, MATIC Price To Melt Faces When It Wakes Up!

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Highlights

    MATIC price is trending within crucial levels which are no doubt bearish at the press time but may flip and undergo a massive rally ahead

    A substantial dip is hovering around the price rally, yet it could be extremely bullish for the asset in the upcoming days

Polygon, which had secured its position once in the top 15 has just slipped beyond 20 at the press time. However, it does not indicate the bearish trend or the diminished strength of the altcoin. As the MATIC price appears to be preparing to go beyond ATH amid the current bull run. And hence, every dip may be the ‘buy at the dip’ for the asset as the targets for Polygon price may range as high as $3.5. 

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Despite the fact that the MATIC price is plotting to go high, yet the short term bearish trend is still valid. After attempting a couple of times to breach through $2.2 levels, the asset faced rejection and plummeted miserably. Yet the asset possesses extreme bullish momentum that could uplift the price above the immediate resistance levels. 

Also Read: Why Did Bitcoin(BTC) Price Plunge, After Claiming Its New ATH of $69K?

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Source: Tradingview

After getting rejected for the second time at $2.2, the asset declined to lower levels. Currently, the price is trending within a falling wedge that could be a massive bullish indicator. The price dropped notably but bounced back hitting the support levels close to $1.70. And hence providing yet another opportunity for the traders to jump in. However, the asset could yet again hit the resistance levels and drop close to support levels before a final flip towards the $2 target. 

On the flip side, if MATIC price fails to keep up the bullish momentum, then the lower support levels at $1.5. However, it is more unlikely as Polygon appears to be self-assured of the upcoming rally. The uptrend may range the price high not only beyond ATH and but also discover new highs above $4 too.

Also Read: People ‘Buy At Tip’ Instead Of ‘Buy At Dip’ of Bitcoin(BTC) Prices! It Is Good Or Bad?

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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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