Polygon (MATIC) Price Analysis: A Bullish November
In November, Polygon (MATIC) has seen a significant bullish trend, with the price increasing from $0.62 to its current level of $0.77. This impressive recovery comes after a challenging October for the cryptocurrency.
What’s Next for MATIC?
Recent signs indicate that MATIC may continue its upward trajectory, with the price surpassing the $0.70 level and hitting a high of $0.77. Analysts suggest that the token could even reach the coveted $1 mark in 2023, showcasing renewed optimism around MATIC following a negative 33% YTD growth in September.
Furthermore, there are indications of a golden crossover, where a short-term moving average crosses above a long-term moving average, signaling an upward trend. Intra-day trading volumes have also surged, supporting MATIC’s current bullish momentum. Additionally, reports of Kraken considering launching a layer-2 blockchain on Polygon add to the positive sentiment around MATIC.
Hot Take: MATIC’s Path to $1
MATIC appears poised to sustain its levels above $0.75 and potentially reach $1 if the bullish trend continues. However, a reversal under $0.75 could see MATIC drop to $0.55 if buyers fail to maintain control at $0.60.
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