MATIC Price Prediction: Why Polygon Could Surge To $1.25
05 April 2023 - 8:14AM
NEWSBTC
MATIC price is rising from the $1.02 support zone. Polygon bulls
seem to be back and they could soon aim a move toward the $1.25
resistance zone. MATIC price started a decent increase above the
$1.12 resistance against the US dollar. The price is trading above
$1.10 and the 100 simple moving average (4-hour). There was a break
above a key contracting triangle with resistance near $1.10 on the
4-hours chart of the MATIC/USD pair (data source from Kraken). The
pair could continue to rise if it clears the $1.165 resistance
zone. Polygon’s MATIC Price Climbs 5% In the past few days,
polygon’s price saw a decent increase from the $1.02 support zone.
MATIC climbed above the $1.05 and $1.06 resistance levels to move
into a positive zone. Recently, Ethereum saw an upside break above
$1,850 while Bitcoin remained in a range. MATIC also followed ETH
and was able to climb over 5%. There was a break above the 50% Fib
retracement level of the downward move from the $1.2528 swing high
to the $1.027 low. Besides, there was a break above a key
contracting triangle with resistance near $1.10 on the 4-hours
chart of the MATIC/USD pair. It is now trading above $1.10 and the
100 simple moving average (4-hour). Immediate resistance is near
the $1.165 level. It is close to the 61.8% Fib retracement level of
the downward move from the $1.2528 swing high to the $1.027 low. If
there is an upside break above the $1.165 resistance level, the
price could start another strong increase. Source: MATICUSD on
TradingView.com The next major resistance is near $1.22, above
which the price could rise toward the $1.25 level. In the stated
case, the price could even attempt a move toward the $1.265 level
or $1.28. Are Dips Limited in MATIC? If MATIC’s price fails to rise
above the $1.165 resistance level, it could start a downside
correction. Immediate support on the downside is near the $1.132
level. The main support is near the $1.12 level. A downside break
below the $1.12 level could open the doors for a fresh decline
toward $1.08. The next major support is near the $1.02 level.
Technical Indicators 4 hours MACD – The MACD for MATIC/USD is
gaining momentum in the bullish zone. 4 hours RSI (Relative
Strength Index) – The RSI for MATIC/USD is now above the 50 level.
Major Support Levels – $1.10 and $1.08. Major Resistance Levels –
$1.165, $1.18, and $1.22.
Polygon (COIN:MATICUSD)
Historical Stock Chart
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Polygon (COIN:MATICUSD)
Historical Stock Chart
Von Jul 2023 bis Jul 2024