Price Analysis

Here’s Why Polygon Coin May Outperform Bitcoin In Near Term

Completing a bullish pattern, the Polygon coin price sets a recovery rally above the $1 psychological level
Published by
Here’s Why Polygon Coin May Outperform Bitcoin In Near Term

Several major cryptocurrencies continue to gain more ground as the overall market witnessed a relief rally. However, the polygon coin seems ahead of the market as it has gained 135 in the last five days. Furthermore, it seems this rally is backed by fundamental perks like several partnerships and integrations. How far will MATIC buyers take this rally?

Advertisement

Key points 

  • A higher price rejection candle indicates the MATIC price faces supply pressure around the $0.865 mark.
  • A bullish crossover between the 20-and-50-day EMA should pour more buying orders into the market 
  • The intraday trading volume in the MATIC is $479 Million, indicating a 116% gain

Source-Tradingview

Amid the past few months downfall in the crypto market, the Polygon coin price formed a flag pattern in the daily chart. However, this bullish continuation pattern offers a pullback opportunity to attract more buyers in the market.

Completing this pattern accentuates the market sentiment in favor of buying on dips. Thus, on October 17th, the polygon coin price gave a bullish breakout from the resistance trendline, signaling the last correction phase had ended.

Today, altcoin jumped 2%, offering a follow-up on the trendline breakout. However, the long-tail rejection indicates that the prices will likely revert and retest the breached resistance. 

The possible retest could offer an entry opportunity for interest if the price shows sustainability above the flipped support. The post-breakout rally could provide a potential target at $0.94, followed by the $1.02 mark.

On a contrary note, if the polygon coin fails to sustain above this new support, the price will nosedive below the trendline. This fake breakout scenario would bring additional selling pressure and trigger further downfall.

Advertisement

Technical Indicators

Relative strength index: the RSI slope jumps above the neutral line and 20-SMA, indicating the market sentiment favors the potential rally.

EMA’s: Along with the trendline breakout, the polygon coin price breached a cluster of EMA resistances(20, 50, 100) in one go. These EMA’s flipped into possible support should assist in maintaining the bull run.

Advertisement

Polygon Coin Price Intraday Levels

  • Spot rate: $0.86
  • Trend: Bullish
  • Volatility: Low
  • Resistance levels- $0.94 and $1.02
  • Support levels- $0.857 and $0.75

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025

XRP price has stayed in the spotlight, pushing through mixed phases while holding steady above…

September 6, 2025
  • Price Analysis

Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition

Chainlink price has been carving a path of resilience, supported by steady inflows and consistent…

September 6, 2025
  • Price Analysis

Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut

Cardano price is eying a 30% surge in the coming weeks after forming a highly…

September 5, 2025
  • Price Analysis

ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?

Ethereum ETF products have gained increased attention as the market observes new institutional entries. At…

September 5, 2025
  • Price Analysis

Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?

Bitcoin price has continued to draw attention as the market reacts to fresh catalysts. At…

September 5, 2025
  • Price Analysis

ONDO Price Prediction Amid Bitget Collaboration on Tokenized Stocks and ETFs: Is $2 Next?

At press time, ONDO trades at $0.9083, marking a 5.2% drop in the past day.…

September 5, 2025