Polygon (MATIC) Price Prediction: Matic Prepares For 34% Upside As RSI Shows Bullish Divergence
Polygon (MATIC) price has been trading with gains in the U.S session on Monday. Risk appetite improves after the Russia-Ukraine ceasefire talks begin at the Belarus border after four days of Russian military action on the latter. International sanctions shaken the former financial system as Rubble, Russian currency plunges 30% on Monday.
- Polygon (MATIC) trades with remarkable gains on Monday.
- Expect a sharp bounce back to swing highs at $2.08 in a total 34% ascent.
- However, MATIC needs to shatter two upside barriers at 50-day and 200-day EMAs.
At the time of writing, MATIC/USD is changing hands at $1.48% for the day. The 24-hour trading volume of the 16th largest cryptocurrency held at $991,059,375 with marginal gains of 6% as per the CoinMarketCap.
Technically speaking, Polygon (MATIC) has depreciated 65% from the record highs of $2.92 made on December 27. The downswing came to halt in late January as the price tested $1.30 along with the formation of a ‘Hammer candlestick’, a bullish reversal pattern.
MATIC touched swing highs at $2.08 on February 7 but bulls look unwilling to carry on the gains further as price retraced marking fresh lows of 2022 at $1.24.
However, the Daily Relative Strength Index (RSI) shows positive divergence since January 24, which is a silver lining amid the consistent downtrend in the asset. Investors must smash the two upside barriers at 200-day and 50-day EMAs at $1.69 and $1.85 respectively.
Next, buyers will set their eyes on the crucial $2.08 level.
On the flip side, a daily close below the session’s low will negate the bullish theory with a revisit to the February low of $1.24.
Technical Indicator:
RSI: The RSI crossed above the average line with the current reading at 46.
MACD: The Moving Average Convergence Divergence (MACD) currently hovers below the midline with upcoming bullish momentum.
- Is the Bitcoin Top In? Raoul Pal Signals Higher Liquidity Cycle Despite Market Selloff
- Expert Says XRP ETF Approval Is ‘Getting Close’ As Issuers File Amendments
- Hyperliquid DEX Outperforms Top Crypto Exchanges Coinbase, Binance, Robinhood With Zero Downtime
- Crypto Market Loses $670 Billion on CEX Auto Liquidations As Altcoins Crash Intensifies
- Crypto Market Crash With 100% Trump Tariff Announcement on China
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal 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.
