Polygon Price Analysis: MATIC Price Can Reach Above $1.0 In Few Months

Kartik Dhankani
March 22, 2021
8:27 am

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MATIC price is currently trailing in a falling wedge pattern with an intraday loss of 0.99%. In Contrast MATIC/BTC pair is seeing a loss of 2.90%
Technical Indicators suggest an uptrend for the MATIC price. There is a possibility that the price can test $1.0 in upcoming months.

Polygon, formerly known as Matic Network, was launched in 2017 by the three founders named Jayanti Kanani, Sandeep Nailwal, and Anurag Arjun. The main key component of the MATIC price and its network is Polygon SDK, a modular and flexible framework that supports various applications,

Polygon has seen a gain of more than 2000% since its inception. It is currently in a bullish trend and can supposedly reach more than $1.0 in the upcoming months.

MATIC is currently ranked at 53 with the market capitalization of $3,802,892,008.The volume($196,987,824) of MATIC has seen a drop of 9.25% in a 24 hour time frame.

Technical Indicators Suggests Continuation Of Uptrend In MATIC Price Action

The weekly chart of MATIC suggests a continuation of the uptrend.Polygon price has lost 6.7% of its value in the previous week. On coming to the daily chart, it showcases that the price can reach up to $1.12.There is resistance at $0.76, and the support to lookout will be at 0.382fib. The smaller time frame chart of 4 hours showcases the formation of a falling wedge pattern. Polygon price is also following the trend line. It highlights the possibility of an upward breakout. If the price goes 10% above the wedge pattern, then a strong uptrend can be observed in the price.

MATIC/BTC pair is currently in a consolidation zone with an intraday loss of 2.66%. This pair can also see an uptrend in the upcoming trading session.

Conclusion

MATIC has given a huge return to the investors in the past and can continue to do the same in future trading sessions. The MATIC/BTC pair is currently seeing a negative trend, but it can soon reverse its position. Investors should do their due diligence before investing.