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The Polygon price prediction reveals that the MATIC price is likely to cross above the moving averages to continue the bullish movement.
Polygon Prediction Statistics Data:
- Polygon price now – $0.81
- Polygon market cap – $6.5 billion
- Polygon circulating supply – 8.0 billion
- Polygon total supply – 10 billion
- Polygon Coinmarketcap ranking – #15
MATIC/USD Market
Key Levels:
Resistance levels: $1.10, $1.20, $1.30
Support levels: $0.60, $0.50, $0.40
Your capital is at risk
MATIC/USD is changing hands at $0.81 after the price dropped off yesterday, consolidating within the channel. The MATIC price not crossing above the moving averages ruins the long-term technical picture of the coin. However, Polygon will have to focus on the bullish movement to guide against the downward pressure, while the closest support expects the coin at $0.70, which could be the daily low.
Polygon (MATIC) May Move Upward, Tamadoge (TAMA) Stays Upward
The Polygon price regains back towards the 9-day moving average because any movement to the downside may bring the coin to the support levels of $0.60, $0.50, and $0.40. However, MATIC/USD is trading at $0.81, and still moving sideways. On the upside, a sustained move above the 21-day moving average may head towards the upper boundary of the channel to hit the next resistance levels of $1.10, $1.20, and $1.30 respectively.
At the moment, the technical indicator Relative Strength Index (14) remains above 40-level, which indicates that the market may shoot to the upside. Looking at the daily chart, there may be a need for support to be formed at around $0.90 to provide tight protection which could allow the buyers to concentrate on stirring action to the north.
Against Bitcoin, the Polygon price is hovering below the 9-day and 21-day moving averages as the buyers aim to push the price to the upside and could rise towards the upper boundary of the channel as the technical indicator Relative Strength Index (14) remains above the 50-level.
However, if the bulls succeeded in breaking above the moving averages, the MATIC price may likely hit the potential resistance level at 4800 SAT and above. On the contrary, any bearish movement below the lower boundary of the channel could bring the price to the support level of 3000 SAT and below.
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