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The Polygon price prediction is likely to break above the channel as the coin moves to create additional gains.
Polygon Prediction Statistics Data:
- Polygon price now – $1.264
- Polygon market cap – $11.1 billion
- Polygon circulating supply – $8.73 billion
- Polygon total supply – $10 billion
- Polygon Coinmarketcap ranking – #11
MATIC/USD Market
Key Levels:
Resistance levels: $1.5, $1.6, $1.7
Support levels: $1.0, $0.9, $0.8
MATIC/USD is refreshing to a new high currently trading at $1.26 with a bullish crossover above the 9-day and 21-day moving averages. On the other hand, the bears may likely set in if the market price slides toward the moving averages but the bulls may collect more on the price dips.
Polygon Price Prediction: MATIC Price Ready to Push Higher
The Polygon price can continue with the uptrend if the current market movement crosses above the upper boundary of the channel. Currently, the technical indicator Relative Strength Index (14) remains within the overbought region by sending bullish signals into the market which could encourage more buyers to enter the market. However, the Polygon (MATIC) may now cross above the upper boundary of the channel to gain additional bullish movements.
However, in as much as the red line of the 9-day MA remains above the green line of the 21-day MA, the coin may continue to do well, and the Polygon price hit the resistance levels at $1.5, $1.6, and $1.7 respectively. In other words, if the coin decides to make a quick turn to the downside, there may be a quick bearish drop which could roll the market back to the critical supports at $1.0, $0.9, and $0.8.
Against Bitcoin, Polygon’s price is hovering above the 9-day and 21-day moving averages as the price hovers at 6145 SAT. Meanwhile, the technical indicator Relative Strength Index (14) could remain within the overbought region if the bulls put in more effort. Moreover, for the fact that the 9-day MA remains above the 21-day MA, the market price may remain on the upside.
Moreover, the daily chart reveals that the potential resistance level is located at 7000 SAT and above, but a lower sustainable move may cancel the bullish pattern and attract new sellers coming into the market with the next focus on the support level of 4500 SAT and below.
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