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Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

MATIC Price Prediction: Why Polygon Could Surge To $1.25

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

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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MATIC price is rising from the $1.02 support zone. Polygon bulls seem to be back and they could soon aim a move toward the $1.25 resistance zone.

  • MATIC price started a decent increase above the $1.12 resistance against the US dollar.
  • The price is trading above $1.10 and the 100 simple moving average (4-hour).
  • There was a break above a key contracting triangle with resistance near $1.10 on the 4-hours chart of the MATIC/USD pair (data source from Kraken).
  • The pair could continue to rise if it clears the $1.165 resistance zone.

Polygon’s MATIC Price Climbs 5%

In the past few days, polygon’s price saw a decent increase from the $1.02 support zone. MATIC climbed above the $1.05 and $1.06 resistance levels to move into a positive zone.

Recently, Ethereum saw an upside break above $1,850 while Bitcoin remained in a range. MATIC also followed ETH and was able to climb over 5%. There was a break above the 50% Fib retracement level of the downward move from the $1.2528 swing high to the $1.027 low.

Besides, there was a break above a key contracting triangle with resistance near $1.10 on the 4-hours chart of the MATIC/USD pair. It is now trading above $1.10 and the 100 simple moving average (4-hour).

Immediate resistance is near the $1.165 level. It is close to the 61.8% Fib retracement level of the downward move from the $1.2528 swing high to the $1.027 low. If there is an upside break above the $1.165 resistance level, the price could start another strong increase.

MATIC Price Prediction

Source: MATICUSD on TradingView.com

The next major resistance is near $1.22, above which the price could rise toward the $1.25 level. In the stated case, the price could even attempt a move toward the $1.265 level or $1.28.

Are Dips Limited in MATIC?

If MATIC’s price fails to rise above the $1.165 resistance level, it could start a downside correction. Immediate support on the downside is near the $1.132 level.

The main support is near the $1.12 level. A downside break below the $1.12 level could open the doors for a fresh decline toward $1.08. The next major support is near the $1.02 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 – $1.10 and $1.08.

Major Resistance Levels – $1.165, $1.18, and $1.22.

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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.

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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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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
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