Polygon (MATIC) Surpasses Expectations In a Good Week For Crypto
The crypto market had a good week last week, with the price of Polygon (MATIC) meeting many investors' expectations.
- It is important for MATIC's price to stay above $1 in order for the price to have a chance to rally to a higher region, such as $1.5.
- MATIC's price is continuing to trend upwards, creating a more bullish bias as the price aims for $1.5. This is where the price could face resistance, but if it breaks through this level, it could continue to rise even further.
- It is clear that MATIC is here to stay, as the price of the token continues to remain strong despite volatility in the overall market. What is most impressive is that MATIC is holding key support on the daily timeframes, which is a testament to the underlying strength of the project.
The crypto market had a good run in the previous week as the price of Polygon (MATIC) leveled up to the expectations of many holding out for the price to continue in its uptrend. However, the new week holds mixed feelings as the market looks with much hope for the price to rally to a region of $1.3 with no sign of Polygon (MATIC) giving up the ghost. Nevertheless, the market has seen some relief across all assets, which provides some hope for the future.
Polygon (MATIC) Price Analysis: Bullish on the Weekly Chart
There seems to be more hope returning to the crypto space as many altcoins produced over 200% gains in the past week. This is a good sign that the market is recovering and that investors are regaining confidence in cryptocurrencies.
The new week hasn't kicked in like the last as most altcoins have begun to look shaky, dropping off from their weekly highs. Ethereum (ETH) and Bitcoin (BTC) have suffered a minor price retracement back to a region of $1,550 and $20,600 respectively, but this cannot be said for MATIC as the price has continued to hold strong above its support formed at $1, forming a more bullish scenario for the price.
It's great to see that the price of MATIC is still holding strong above $1.5, despite the bear market. The project and community have been great since the beginning, and there's still a lot of hype and excitement around it. I think it's poised to do even better in the future.
It is essential for the price of MATIC to remain above $1 if the cryptocurrency wants to have a chance at a rally up to $1.5 or even $2. However, if the price falls below $1, we could see it retesting the weekly support at $0.8.
The price of MATIC has been holding steady at around $1.5 for the past week, with strong resistance at this level.
Looking ahead, we can see that weekly support for the price of MATIC is in the $1-$0.8 range.
Price Analysis Of MATIC On The Daily Chart
It looks like the price of MATIC could be set to rally to a high of $1.5 in the near future. This would be a great result for bulls who have been pushing higher in the chart.
The price of MATIC has rallyed from a daily low of $0.8 to a high of $1.3, suffering a minor setback. The price trades above the 50 and 200 EMA, which indicates a good relief sign for MATIC’s price on the daily timeframe. The price could be poised for a major run to $1.5-$2.
It is evident that the market is not ready to give up on MATIC just yet, despite the recent bearish market conditions.
The MATIC price has been on a roller coaster ride over the past few weeks, but it looks like it may have found some stability around the $1 mark.