Matic Token Price Increase Could Mean More Gains to Come
The price of MATIC tokens started increasing significantly from the $0.840 support zone. Polygon buyers pushed the price above $1.20, and there could be more gains in the future.
The MATIC price started to increase significantly from the $0.840 support zone, with Polygon buyers pushing it above $1.20. There could be further upside potential for the price, making it a good time to buy in.
- Matic price rallied above the $1.00 and $1.20 resistance levels against the US dollar. The price is now trading well above the $1.30 level and it seems like the bulls are aiming for a move towards the $1.40 level.
- Price of the security is expected to continue trading above $1.00 and the 100 simple moving average (4-hours). This would be considered a bullish trend for the security.
- The triangle mentioned in the paragraph suggests that there could be a bullish breakout in the MATIC/USD pair, with resistance at $1.22 on the 4-hour chart. This would be a positive development for the pair, which has been in a downtrend recently.
- The pair could continue to rise and might soon revisit the $1.50 resistance zone. This would be a good time to buy the pair as it could continue to rise in value.
Polygon's MATIC Price Rallies by 10% in One Day
Polygon’s price is on the rise, breaking through resistance levels and moving into positive territory. This provides a strong base for continued growth in the future.
It is evident from the chart that there was a strong move above the $1.00 resistance and the 100 simple moving average (4-hours). The price surged above the $1.20 resistance and a high was formed near $1.304. However, the price has started a downside correction recently, similar to what has been seen in bitcoin and ethereum.
The price of the asset has declined below key support levels, indicating that further downside is possible in the near-term. The 23.6% Fibonacci retracement level suggests that the recent uptrend may have ended, and further losses could be in store for the asset. Traders closely watching these levels for signs of a rebound or further weakness.
The matic bulls are active above the $1.15 level and there is a key contracting triangle forming with resistance at $1.22 on the 4-hours chart of the MATIC/USD pair. On the upside, an immediate resistance is near the $1.22 zone.
The cryptocurrency market is booming, and one of the hottest coins right now is MATIC. According to TradingView.com, the coin is up over 7% in the past 24 hours. With the current trend, it looks like MATIC is poised for even more growth.
The article predicts that if the price of the security breaks above the main resistance levels, it could start another strong increase, eventually reaching the $1.50 level.
Dips in MATIC? Prices may be limited.
If MATIC price fails to continue higher above the $1.22 or $1.24 levels, it could start a downside correction. An immediate support on the downside is near the $1.150 level. The MATIC price could start to correct lower if it fails to move above key resistance levels at $1.22 and $1.24. The first support level on the downside is near the $1.
The main support for the US Dollar is near the $1.060 level. A downside break below this level could open the doors for a fresh decline towards $0.950 or the 100 simple moving average (4-hours). The next major support for the dollar is near the $0.850 level.
Technical indicators are important tools that can be used by traders to help make decisions about when to buy or sell a security.
The MACD for the cryptocurrency MATIC/USD is slowly losing momentum in the bullish zone, according to data from the 4-hour timeframe.
The RSI for MATIC/USD is now above the 50 level, indicating that the price of the asset is gaining strength. This is positive news for investors, as it suggests that the asset is poised for further gains in the future.
The EUR/USD currency pair is currently trading at around $1.15, and analysts believe that this could be a major support level for the currency. The next support level is at $1.
The market looks to be heading towards a major resistance level at $1.22. However, there are two other potential resistance levels at $1.24 and $1.30.