Matic Price Forecast: Polygon is ready to move towards a new ATH


Matic price has struggled to reach higher ground, but there is speculation that it will soon climb. Polygon chart analysis suggests this coin could hit an all-time high soon and at such a steep rate of ascent too.

MATIC coin has been bullish since September 26th as the prices noted an impressive 73.39% and 19%. MATIC, the most valuable altcoin by market capitalization, experienced a lift on October 29th.

It reached its five-month high as MATIC traded back below where it had been trading before reaching this recent peak.

At press time, Polygon is trading at $1.90, a slight decrease of 1.22% in the 24 hours.

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Matic Price Prediction

MATIC, a cryptocurrency currently trading at $1.91, has shown signs of momentum in recent days. The daily chart indicates it could be set up nicely for one last push higher after slicing above the upward-sloping trendline.

The outlook for the cryptocurrency market is positive, with a 99% rally from peak levels. This optimistic target has been set by technical patterns that signify an upturn in prices, and it will be reached after surpassing its all-time high at $2.69 per coin.

Matic/USDT. Source: Trading View

A breakout and close above $2.22 could clear the path for a rally to potentially reach new heights, with resistance at just under 3 dollars insight on that important trend line which has been so far proving stubbornly resistant this year despite some impressive gains.

Moreover, The 50-SMA is strong support for the price, so if it breaks below this level, we could see $1.71 as an initial target and possibly more downside movement to $1.50 of that amount depending on how far down things are going from here.