MATIC has been consolidating for a while now, and it might be about time that some people get excited. The MATIC price has been stuck within an echo zone, but with any luck, this congestion will lead to something much more exciting: the bull rally.
Polygon’s native MATIC token is slightly higher, trading at $1.486 with 30% more gain month-to-date and 8 thousand per cent in 2021.
Polygon Matic Price Prediction
MATIC made three consecutive higher highs and two similar marks from June 15th to October 19th. This pattern can be seen by connecting the swing points with trendlines which creates an ascending triangle shape.
Polygon, a cryptocurrency ranking higher than Stellar Lumens and the Ethereum Network’s second-largest scaling solution.
Polygons market capitalization currently stands at $10 billion, making it one of the most valuable cryptocurrencies out there today. With Polygaon’s rise in value comes new investors looking for their opportunity within this fast-growing industry, so now maybe your chance.
The MATIC price is consolidating in a tight triangle formation. Polygon has recently nosed against the upper edge of this pattern at $1.559, which offers significant resistance for traders looking to buy or sell their coins.
A successful flip of the horizontal resistance level at $1.71 will serve as a secondary confirmation and signal the start of a new uptrend for MATIC price, with possible gains reaching massive proportions in investors’ portfolios if they hold long enough to see their investments through.
Polygon has been trending upwards for a while now, and as long as it holds the 200-DMA, there’s no reason to think that will change anytime soon. However, a well-backed move towards $2.899 could set up an opportunity around 90% above where we currently trade.
According to FXStreet,
“MATIC price needs to rally at least 14% to pierce the $1.71 barrier. A failure to push through will likely result in a pullback to the inclined trend line of the ascending triangle at $1.21”.
“A breakdown below this level will create a lower low and invalidate the bullish thesis. In such a case, MATIC price might head toward the $1.01 support floor”.