MATIC’s Price Surge
Following the Uptober rally in October, many altcoins experienced significant price surges, including Polygon’s native crypto MATIC. The token recently surpassed the crucial $0.75 mark, showing momentum towards reaching $1. If the current pace is sustained, MATIC might reach $1 by the end of 2023.
If MATIC manages to surpass $0.85 in November, reaching the coveted $1 mark is expected. However, a drop below $0.75 could bring the price down to $0.55 if buyers fail to maintain their lead at $0.60.
Additionally, MATIC’s Exponential Moving Averages (EMAs) have experienced a significant breakout in recent weeks after the crypto’s 200-day EMA breakout led to a price surpassing the crucial $0.75 barrier.
MATIC’s Recovery and Potential
Despite experiencing a 33% year-to-date (YTD) decline in September, MATIC has recovered within a month. The token’s strong bullish candles and rising volumes suggest a continuation of an upward trajectory, giving buyers a good chance of maintaining their lead at the current price of MATIC.
Hot Take: MATIC’s Promising Future
With a 50% increase in the last 20 days following the YTD decline in September, MATIC is now in a profitable position. The current bullish continuation indicates potential future profits for the token.
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