Price Analysis

Polygon(MATIC) Price Flared-up New ATH Close to $3, How Soon Will it Surpass These Levels?

Written by: Qadir AK

Written by right arrow

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

  • author facebook
  • author twitter
  • linkedin

Dec 26, 2021

news-image
Highlights

    Soon after the rise, the asset is facing an interim pullback that may be easily overcame as the buyers still hold the control

    Polygon price is trending within a discovery phase after smashing new ATH just a couple of moments before

    Despite huge bullish momentum, yet the asset may face some hurdles on its path towards the $3 milestone which appears achievable

While popular crypto like Bitcoin, Ethereum are attempting to reverse the silent trend, Polygon(MATIC) price already made a huge move. The asset for a couple of days remained extremely bullish as it accumulated gains during a small consolidation. Soon after the asset gained some strength, the price broke through to leap long above $2.8.

Advertisement

Just a couple of days before, the MATIC price broke the previous ATH around $2.68 slicing through the pivotal levels around $2.55. Yet very soon, the bears initiated to extract their profits and hence experienced slight exhaustion before pulling its next leg up. Yet from the beginning of the present-day trade, the MATIC bulls gathered all their strength to uplift the price close to $3. Yet the asset is showcasing immense capability to pierce through the $3 milestone very soon. 

The daily chart of the asset showcases immense bullish trends and the higher targets framed for the asset in the short term. The MATIC price is swinging with an ascending channel since it flipped the bearish trend in July. Despite multiple ups and downs, the trend continues to range within the channel and eventually discover new highs every new day. 

Each time the asset hits the upper resistance levels, it experienced a slight pullback and consolidated a little. However, while the asset marked new highs a couple of days before, the pullback remained very short-lived and reversed the trend.

And hence, presently a similar trend may repeat with the MATIC price sliding close to $2.75 and then resuming with the bull run towards $3. The time frame may be extended for a couple of days more as the asset kick-started the weekly trade on a bullish note and may end it in a similar way too. 

Show More

Was this writing helpful? myImage dislikeimage

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Related Articles

Back to top button