MATIC Price Prediction: Can Polygon Rip Higher To $1.15
09 April 2024 - 3:28PM
NEWSBTC
MATIC price is up over 5% and it tested the $0.950 resistance.
Polygon bulls are in full control, and they might aim for more
upsides above $1.00. MATIC price started a fresh increase above the
$0.920 resistance against the US dollar. The price is trading above
$0.925 and the 100 simple moving average (4 hours). There was a
break above a key bearish trend line with resistance at $0.9150 on
the 4-hour chart of the MATIC/USD pair (data source from Kraken).
The pair could continue to move up if it clears the $0.9720
resistance. Polygon Price Starts Fresh Increase After forming a
base above the $0.8620 level, Polygon’s price started a fresh
increase. MATIC cleared many hurdles near $0.880 and $0.8950 to
move into a positive zone, like Bitcoin and Ethereum. There was
also a move above the $0.90 resistance and the 100 simple moving
average (4 hours). The bulls pushed the price above the 23.6% Fib
retracement level of the downward move from the $1.0854 swing high
to the $0.8612 low. Besides, there was a break above a key bearish
trend line with resistance at $0.9150 on the 4-hour chart of the
MATIC/USD pair. MATIC is trading above $0.9250 and the 100 simple
moving average (4 hours). Immediate resistance is near the $0.960
zone. The first major resistance is near the $0.9720 level or the
50% Fib retracement level of the downward move from the $1.0854
swing high to the $0.8612 low. If there is an upside break above
the $0.9720 resistance level, the price could continue to rise.
Source: MATICUSD on TradingView.com The next major resistance is
near $1.00. A clear move above the $1.00 resistance could start a
steady increase. In the stated case, the price could even attempt a
move toward the $1.100 level or $1.150. Are Dips Limited in MATIC?
If MATIC’s price fails to rise above the $0.9720 resistance level,
it could start a downside correction. Immediate support on the
downside is near the $0.915 level and the same trend line. The main
support is near the $0.880 level. A downside break below the $0.880
level could open the doors for a fresh decline toward $0.8620. The
next major support is near the $0.8250 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 – $0.9150
and $0.880. Major Resistance Levels – $0.9720, $1.00, and $1.15.
Polygon (COIN:MATICUSD)
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