MATIC Price Prediction: Polygon Pump 15%, Bulls Target $1
November 10 2023 - 12:58AM
NEWSBTC
MATIC price is up over 15% and trading near $0.85. Polygon bulls
are in charge, and they might soon aim for a move toward the $1.00
level. MATIC price started a strong increase above the $0.75
resistance against the US dollar. The price is trading above $0.78
and the 100 simple moving average (4 hours). There is a key bullish
trend line forming with support near $0.775 on the 4-hour chart of
the MATIC/USD pair (data source from Kraken). The pair could
continue to rise if it clears the $0.850 and $0.880 resistance
levels. Polygon Price Signals Breakout After forming a base above
the $0.65 level, Polygon’s price started a strong increase. MATIC
broke many hurdles near $0.70 to move into a positive zone, like
Bitcoin and Ethereum. There was a move above the $0.75 resistance
and the price climbed over 15%. Finally, it tested the $0.850
resistance zone. A high was formed near $0.8588 and recently the
price saw a downside correction. There was a sharp decline below
the $0.820 level. The price even spiked below the 50% Fib
retracement level of the upward wave from the $0.6952 swing low to
the $0.8588 high. However, the bulls remained active above the
$0.750 support zone. There is also a key bullish trend line forming
with support near $0.775 on the 4-hour chart of the MATIC/USD pair.
The trend line is near the 61.8% Fib retracement level of the
upward wave from the $0.6952 swing low to the $0.8588 high. MATIC
is now trading above $0.78 and the 100 simple moving average (4
hours). Immediate resistance is near the $0.850 level. The first
major resistance is near the $0.880 level. If there is an upside
break above the $0.880 resistance level, the price could continue
to rise. Source: MATICUSD on TradingView.com The next major
resistance is near $0.920. A clear move above the $0.920 resistance
could start a steady increase. In the stated case, the price could
even attempt a move toward the $0.980 level or $1.00. Downside
Correction in MATIC? If MATIC’s price fails to rise above the
$0.850 resistance level, it could start a downside correction.
Immediate support on the downside is near the $0.800 level. The
main support is near the $0.775 level or the trend line. A downside
break below the $0.775 level could open the doors for a fresh
decline toward $0.720. The next major support is near the $0.700
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 – $0.800 and $0.775. Major Resistance Levels –
$0.850, $0.880, and $0.980.
Polygon (COIN:MATICUSD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Polygon (COIN:MATICUSD)
Historical Stock Chart
From Oct 2023 to Oct 2024