The Price of Polygon (MATIC) Recovers
The price of Polygon (MATIC) has recovered from its previous downturn. Today, it reached a high of $1.09 before falling back to $0.97.
Long-Term Polygon Price Prediction: Range
In February 2023, Polygon reached a high of $1.56 before crashing to the bottom of the chart. However, buyers are driving the cryptocurrency higher, recovering from the previous high of $1.50. Currently, it is down to $0.94 but is expected to resume its uptrend once it breaks through resistance at $1.09.
Analysis of the Polygon Indicator
The bullish uptrend resumed as the price bars retraced above the moving average lines, which are sloping northward. The decline occurs when the price falls below these lines.
Technical Indicators
Resistance levels: $1.20, $1.30, $1.40
Support levels: $0.60, $0.40, $0.30
What is the Next Move for Polygon?
Polygon is regaining ground and continuing its climb to regain previous highs. It is predicted to reach $1.50 before recovering to the overhead resistance level of $2.50. Currently trading between $0.96 and $1.10, it is preparing for the second leg of its rise.
According to a report on December 26, buyers have been defending the current price of $0.75 and have bought the dips twice as the altcoin falls above the current support.
Hot Take: Polygon’s Recovery Strengthens Amidst Volatility
The price of Polygon (MATIC) has shown resilience in recovering from its previous downturn, indicating strength amidst market volatility. With buyers driving the cryptocurrency higher and technical indicators suggesting a bullish uptrend, Polygon is poised to regain previous highs and potentially reach new resistance levels. As the altcoin prepares for its second leg of the rise, it remains an asset to watch in the crypto market. Stay updated with the latest developments to make informed investment decisions.
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