Polygon (MATIC) has began to present indicators of restoration after a steep correction over the past week or so. The decline in value is a part of a broader stoop within the wider market, however MATIC seems to be consolidating for its subsequent leg up. Here are the principle information:
MATIC has managed to maintain the $0.8 assist regardless of huge promoting strain.
The coin can reclaim the vital psychological value of $1 within the days forward.
This may set off a bullish uptrend that might ship no less than 25% in positive factors.
Data Source: Tradingview
Polygon (MATIC) – value prediction
After hitting a new 2022 excessive of $1.73, MATIC has misplaced a lot of its upward momentum. The coin has tumbled over the past two weeks, shedding a number of key helps within the course of. The greatest fear for bulls although got here after the token fell beneath the essential psychological value of $1.
But regardless of this promoting strain, MATIC seems to have discovered robust assist at $0.8. The coin has held this degree even because the broader market sells off. This is a good signal, in actual fact, we’re seeing some consolidation round $0.8 proper now. If this continues, MATIC is probably going going to reclaim the $1 value.
After that, bulls could take over and push the worth motion increased by no less than 25% from the $1 value. Besides, momentum indicators, together with the RSI present a bullish divergence that might push the worth additional upwards.
How to benefit from this setup?
MATIC has already dipped massively from its 2022 highs. If you ever needed to personal this altcoin, that is the most affordable it has been for a whereas. It’s subsequently a good time to purchase, particularly for long-term traders.
As for the short-term play, a good method could be to look ahead to the altcoin to reclaim $1. Once this occurs, you should purchase in and exit at round $1.3.