Polygon Price Prediction for Today, October 22 – MATIC Technical Analysis

The Polygon price prediction begins a decent recovery toward $0.58 as the coin approaches a major hurdle near $1.60.

Polygon Prediction Statistics Data:

• Polygon price now – $0.57
• Polygon market cap – $5.5 billion
• Polygon circulating supply – 9.3 billion
• Polygon total supply – 10 billion
• Polygon Coinmarketcap ranking – #12

MATIC/USD Market

Key Levels:

Resistance levels: $0.68, $0.70, $0.72

Support levels: $0.45, $0.43, $0.41

MATIC/USD is in the hands of the bulls as the coin moves to cross above the upper boundary of the channel. However, due to a lack of buying power, the bulls may continue to push the coin to the upside if they increase the buying pressure. Meanwhile, the 9-day moving average may need to cross above the 21-day moving average to confirm the bullish movement.

Polygon Price Prediction: Polygon (MATIC) May Spike to the Upside

Looking at the daily chart, the Polygon price is ready to break into the upside as the 9-day moving average moves to cross above the 21-day moving average. However, the more the bulls pressurized the bears, the higher the coin would reach. Therefore, if the bulls maintain the upward trend, MATIC/USD may continue with the bullish movement which could take the coin to the resistance levels of $0.68, $0.70, and $0.72.

On the contrary, any strong selling pressure could drag the price below the 9-day and 21-day moving averages, and should BTC trade below the daily opening price of $0.53, a bearish movement could take the price to the support levels at $0.45, $0.43, and $0.41.

MATIC/BTC Begins the Upward Movement

Against Bitcoin, the Polygon price is above the 9-day moving average as the bulls increase their entries within the market. At the time of writing, the Polygon price has not been able to push the price above the upper boundary of the channel as it is currently trading at 1901 SAT. However, if the Polygon signals a bullish rally, it may likely meet resistance at 2100 SAT and above.

Looking at the daily chart, traders can see that the market may maintain the bullish movement as the 9-day MA could make a bullish cross above the 21-day MA. Meanwhile, any bearish movement below the lower boundary of the channel could hit the support at 1650 SAT and below.

Polygon Alternatives

The Polygon price can be expected to rise from this current high of $0.57 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 $0.60. Therefore, if the red line of the 9-day MA crosses above the green line of the 21-day MA, the coin may continue to do well in the market.

Nevertheless, Bitcoin Minetrix is a hot new project in the crypto space, focusing on cloud mining. However, $BTCMTX allows for a flexible staking system where the investors are to decide the lock-in period as the platform ensures that the smart contract governing the staking process is secure and transparent. Meanwhile, during the presale today, over $2m has already been raised so far.