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28 March 2024
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Polygon Price Analysis: MATIC Coin Price Is Ready To Take A Leap For A New High


  • MATIC coin price has formed a strong bullish engulfing pattern that can help the price to reach a new high in the upcoming days. Meanwhile, Polygon has seen a dip of more than 2.5%.
  • Polygon price technical indicators might push it to a new high in the future. Meanwhile, MATIC/BTC pair has seen a gain of more than 7% in the past 24 hours

MATIC coin price is currently seeing a strong upside gain and may hit the new high of $3 in the future. Polygon price has observed a gain of more than 10% in the past 24 hours and is trailing near the value of $2.14. The asset is currently trading above the 50 and 100 Daily Moving Average. The 50 DMA of the coin is near the value of $1.86 making it a temporary hostile region for the asset. If the market corrects itself or Bitcoin falls then one can expect a downside trend in the coin for the future. MATIC/BTC pairs can expect similar gains in the future.

Polygon is currently ranked 14th in the cryptoverse with a market dominance greater than 0.8%. The asset has seen a fall in the market cap but is currently in a recovery mode and can soon see a new high. The volume of Polygon has also been seeing surge which can push the price. MATIC/BTC ratio of the coin suggests a strong upside pattern for the future.

MATIC Crypto Price Technical indicators Suggest A Strong Upside Trend

Source: Trading view

The weekly technical chart of the Polygon hints towards a downside trend in the price for the future. On coming to the daily chart, MATIC is seeing a strong upside candle formation. The upside potential return of the asset can see a halt near $2.65. The downside trend of the asset might face support near $1.8. If the token runs above $2.5 then a rally to $3 can be seen. 

Conclusion

MATIC crypto price has been seeing a bearish trend and might soon see a strong breakout. MATIC/BTC pair can also see strong gains in the future. One should do their own research before investing in Polygon.

Technical Levels

Major Resistance:$2.5

Major Support:$1.8

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