Polygon Price Prediction for Today, February 16: MATIC/USD Appears Intraday Volatile; Trades Above $1.45 Level

The Polygon price prediction shows that MATIC must break and close above the $1.50 price mark for further upside.

Polygon Prediction Statistics Data:

• Polygon price now – $1.38
• Polygon market cap – $12 billion
• Polygon circulating supply – 8.7 billion
• Polygon total supply – 10 billion
• Polygon Coinmarketcap ranking – #9

MATIC/USD Market

Key Levels:

Resistance levels: $1.70, $1.75, $1.80

Support levels: $1.08, $1.06, $1.04

At the time of writing, MATIC/USD is seen trading at $1.38 after recording an intraday high at $1.46 in the opening hour of today. Looking at the daily chart, Polygon (MATIC) is also following the footsteps of the granddaddy of the digital market – BTC, as its margin of gains has increased this time around. MATIC/USD is still above the 9-day and 21-day moving averages after recovering from the daily low of $1.31.

Polygon Price Prediction:  Where is MATIC Price Going Next?

The Polygon price can be expected to rise from this current high of $1.46 in the next positive direction as the ongoing trend may move a little bit higher in the coming week. The Polygon price may cross above the channel to touch the nearest resistance at $1.50. Therefore, as the red line of the 9-day MA is above the green line of the 21-day MA, the coin may continue to do well and the price could hit the resistance levels at $1.70, $1.75, and $1.80 respectively.

Meanwhile, should the technical indicator decide to make a quick turn to the south, there may be a bearish cross below the 9-day and 21-day moving averages and this bearish drop could roll the market down to the support levels of $1.08, $1.06, and $1.04 as the technical indicator Relative Strength Index (14) moves to cross into the overbought region.

When compares with Bitcoin, the green line of the 21-day MA is below the red line of the 9-day MA, and the market price focuses on the upward movement within the channel. MATIC/BTC is currently trading at 5721 SAT and if the coin continues to rise, the next key resistance could be at 6700 SAT and above.

On the downside, a possible bearish movement below the moving averages may likely come into play, when this is done, the support level of 4700 SAT and below could be visited. Meanwhile, the market may have a bullish day today because the Relative Strength Index (14) moves above the 60-level, which could give more bullish signals for a while.

Polygon Alternatives

At the time of writing, the Polygon price is in the hands of bulls as the buyers may need to gather enough momentum in order to keep the coin on the positive side. Nevertheless, the MEMAG token remains the most popular mobile gaming guild on Web3 which enables interesting and fun-filled video games that utilize NFTs. Meanwhile, during the MEMAG presale today, around $4.75 million has already been raised.