Polygon Price: Analyst Predicts Surge to $1.25 – $1.50
A crypto analyst has made an optimistic prediction for Polygon (MATIC) price, expecting it to surge beyond $1.25 in the next bull run. Michaël van de Poppe, the CEO and Founder of MN Trading Consultancy, noted that MATIC has been maintaining higher timeframe support levels and there has been a significant absorption of liquidity recently, indicating a potential bullish turn. Despite its recent underperformance, Poppe predicts an upswing for Polygon soon.
Polygon Price Loses 20% in a Month
Over the past month, Polygon has recorded a loss of over 20% in its value and continues to decline. The MATIC price dropped below $0.79, marking another drawback. Currently, MATIC is down by 1.70% to $0.787. The market cap of Polygon stands at $7.55 billion with a decline of 1.84%. However, the trade volume has gained 8.37% to $270.31 million.
Technical Analysis and Bearish Trend
According to TradingView stats, Polygon’s RSI value indicates a neutral sentiment at 46.5730. The 50-day and 100-day EMAs suggest a bearish trend as the MATIC price is trading below these levels. However, there is a short-term bullish sentiment as Polygon is valued above the 10-day EMA of 0.7768.
Hot Take: Will Polygon Rebound?
Despite its recent decline in price, there is optimism surrounding Polygon’s future performance. With support levels being maintained and signs of potential bullish momentum, there is hope for a rebound in the near future. Keep an eye on Polygon as it could surge beyond $1.25, providing relief for its supporters.
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