MATIC Price Prediction: Polygon Breaks 2 Month Trend In Attempt to Reach $1.50 [Live Chart]
- MATIC price has revived nearly 90% off low in July
- MATIC Price has been battling major resistance zone
- 100MA is now acting as support
MATIC price has been overall flat the last two weeks as it attempts to regain a major resistance zone. The majority of the cryptocurrency market has fully broken out of its downtrends & have been aiming towards levels traded at in May. This is a great sign as many investors were worrying a dip to low $20,000s on BTC. MATIC price has been lagging a bit but this is expected as it had one of the most explosive bull trends which ended later than others.
While looking at the last 2.5 weeks, we can see how price has been respecting an ascending channel. Each time price hits either trend, it has gotten rejected to the other. If bulls manage to break the top trend, the major resistance of $1.16-$1.22 must be held to experience a large pump. At the time of writing, price is holding its major support at $1.11.
As long as this continues, MATIC is in position to break its resistance zone and head to targets of $1.32 & $1.45.
MATIC Price Prediction: MATIC/USDT 4 Hour Chart
In addition, MATIC just managed to break over a near two month downtrend line over the past week. Yesterday, MATIC price retested this as support, which is a very bullish sign overall. Along with the new trend line support, lies the 100MA. This MA has been holding as support for almost a month & a break below this will surely confirm a short term bearish trend. There is also a major support zone near the 100MA. This zone lies from $1.01-$1.05. If bears take control & break these two marks, MATIC price will likely fall to $0.93.
- While looking at the RSI, we can conclude it has been overall bullish as it has stayed above the 50 value. A strong push to the overbought region will be needed for MATIC to break over its resistance zone & hit its targets. Inversely, a break below the 50 value will confirm some type of downtrend.
- The Stochastic RSI has just reset to oversold levels and is now making its way to overbought levels. Staying above the 50 value is needed for a strong push on MATIC.
MATIC Intraday Analysis
- Spot rate: $1.14
- Trend: Sideways
- Volatility: High
- Support: $1.11
- Resistance: $1.16
- Breaking: 21Shares Amends Sui ETF with Staking, Nasdaq Listing, Other Key Details
- Binance’s Changpeng Zhao Takes on Senator Elizabeth Warren On False “Fraud” Allegations
- Trump Tariffs: Crypto Market Volatility Looms As US President Terminates Trade Talks With Canada
- Coinbase CEO Says Market Structure Bill Will Pass by Year-End Despite Government Shutdown
- Breaking: Trump To Meet China’s President On October 30, Bitcoin Bounces
- Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide
- Solana Price Prediction as Osprey’s S-1 Filing and Hong Kong’s ETF Launch Fuel Reversal Hopes- Is $250 Next?
- Ethereum Price Poised for Breakout as Wyckoff Re-Accumulation Meets BlackRock’s $110M Purchase
- BNB Price Prediction as Analysts Eye $1500 Ahead of Fresh Coinbase and Robinhood Listings
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
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.
