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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

MATIC Price Prediction: Polygon Signals Recovery To $0.75

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Polygon’s MATIC Price Prediction

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MATIC price is recovering from the $0.55 support zone. Polygon might rise further toward the $0.725 and $0.750 resistance levels.

  • MATIC price is attempting a recovery wave above the $0.60 resistance against the US dollar.
  • The price is trading above $0.64 and the 100 simple moving average (4 hours).
  • There was a break above a key bearish trend line with resistance near $0.605 on the 4-hour chart of the MATIC/USD pair (data source from Kraken).
  • The pair could continue to rise if it clears the $0.725 resistance zone.

Polygon’s MATIC Price Attempts Recovery

In the past few days, Polygon’s price saw a major decline from well above $0.80. MATIC declined below the $0.750 support to move into a bearish zone.

A low is formed near $0.5432 and the price is now attempting a fresh increase, similar to Bitcoin and Ethereum. The price was able to climb above $0.60. Besides, there was a break above a key bearish trend line with resistance near $0.605 on the 4-hour chart of the MATIC/USD pair.

It broke the 23.6% Fib retracement level of the downward move from the $0.9067 swing high to the $0.5432 low. MATIC price is now trading above $0.64 and the 100 simple moving average (4 hours). It is now facing resistance near the $0.725 level.

If there is an upside break above the $0.725 resistance level or the 50% Fib retracement level of the downward move from the $0.9067 swing high to the $0.5432 low, the price could continue to recover. The next major resistance is near $0.78.

MATIC Price Prediction

Source: MATICUSD on TradingView.com

A clear move above the $0.78 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $0.80 level or $0.82.

Fresh Decline in MATIC?

If MATIC’s price fails to rise above the $0.725 resistance level, it could start a fresh decline. Immediate support on the downside is near the $0.65 level.

The main support is near the $0.625 level. A downside break below the $0.625 level could open the doors for a fresh decline toward $0.60. The next major support is near the $0.55 level.

Technical Indicators

4 hours MACD – The MACD for MATIC/USD is gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for MATIC/USD is now above the 50 level.

Major Support Levels – $0.65 and $0.625.

Major Resistance Levels – $0.725, $0.75, and $0.78.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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