MATIC Price Above $1.5 , Will Polygon Maintain Uptrend to Hit $2 by the End of February 2022?

The post MATIC Price Above $1.5 , Will Polygon Maintain Uptrend to Hit $2 by the End of February 2022? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

After a steep drop, the crypto space tends to offer an interim relief from the downtrend quite often. And hence the MATIC price has also flipped from the monthly lows and utilizing all its resources to maintain a strong uptrend towards the $2 price zone. The asset had maintained the lower support zone at $1.4 amid multiple plunges in recent times, but the current plunge broke the lower levels to test the lower levels at $1.349. 

Earlier the price had ignited a flip on hitting the lower support just below $1.6 and ranged high to range close to $2. Woefully, an acute sell-off dragged the price to as low as $1.359 slicing through the lower support at $1.4. Currently, the MATIC price has ignited a notable flip where-in a notable buying volume has been accumulated which assisted the price to rise high above the parallel channel. 

MATIC Price Analysis

As mentioned before, the MATIC price rises high igniting an uptrend, slicing through the descending parallel channel. The current momentum appears to be pretty bullish as the buying volume has mounted in the past couple of the hours.

And hence the asset hitting the upper resistance at $1.59 seems to be imminent. Here the asset may encounter a decisive phase where-in a notable jump or a significant plunge may be pre-determined. 

In case of a surge, the Polygon price may surge high after clearing the $1.598 to test the crucial $1.75 resistance. Later $2 may not be much distinct to achieve and hence the asset cloud range over the plot in the next 3 to 4 days and intensify since the beginning of March 2022.

Conversely, a minor plunge in the current phase may weaken the rally to a large extent, that may test the lower support and plunge close $1.3. However, a flip may be imminent but the strength may be extremely low with lowered volatility.