Price Analysis

Polygon(MATIC) Price on a Run, $3 Appears to be Pre-Programmed this Bull Run

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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Dec 22, 2021

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Highlights

    Polygon price is ranging high slowly yet steadily after the horrific sell-off recently. And hence the path towards the ATH appears pretty clear

    The MATIC price after smashing the yearly highs could easily make it to the $3 mark, yet could continue with the uptrend to end the yearly trade closer to $5

As the year 2021 is coming to an end, many altcoins are gaining bullish momentum to propel in order to end the yearly trade on a bullish note. The previous crash had dragged the price too as low as $0.6 and since then the asset followed a calculated rally. However, for the past couple of days, the MATIC price is registering huge bullish candles, breaking the crucial resistance levels. 

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The recent acquisition of ZK start-ups’ Mir protocol by Polygon has added another feather to the hat which also fueled the bull rally. In a recent update, Polygon rolls out Polygon Cares, where one can onboard their project in order to build an ecosystem open for everyone. Moreover, constant collaborations and partnerships have heavily impacted the platform, yet the MATIC price still remains a little skeptical. 

Matic price is attempting to pierce through the mandatory resistance levels in between $2.4 and $2.5. If the asset is successful in clearing these levels, then a healthy uptrend beyond the ATH is quite possible. Else if the asset gets exhausted, then the asset could revisit the middle levels of the parallel channel at $2.3 yet again before a notable bounce. 

However, the MATIC price still appears to be primed to rally beyond the current ATH at $2.68. Yet the RSI is pretty bullish and yet to visit the overbought levels. But the trading volume has slashed more than half but the MACD also being bullish laids down a bullish scenario for the asset very soon. 

Also Read : These Altcoins Displayed a Huge Bullish Momentum in the Past Week, How Will They Rally Further?

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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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