Polygon(MATIC) Price Aims at 30% Upswing, Will it Hit $1.6 by the End of Day’s Trade?

The post Polygon(MATIC) Price Aims at 30% Upswing, Will it Hit $1.6 by the End of Day’s Trade? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Polygon (MATIC) price for a pretty long time has been swinging within a very consolidated and healthy range. Despite a sensible try to break out of the range between $1.2 to $1.88, the price yet again settled within the same range. Moreover, the asset is currently displaying a huge chance of placing itself in a bear market. But, will the bulls enter to stabilize the trembled conditions is a matter of concern at the moment. 

The MATIC price which showcased a gigantic rally always maintained the lower support along the uptrend line. And currently in a higher time frame, cements itself around the line and waiting for a fine flip to mark a rebound firmly. However, in the short time frame, the MATIC price appears to be in a decisive phase, where-in a small wrong move may drag the price down to $1.2

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• At present, the price is trading in between the immediate resistance and support levels of $1.52 and $1.4 and within a symmetrical triangle

• The asset recently faced rejection from the upper resistance and quickly plunged hard breaking the initial support levels, however, flip hard before testing the next support levels. 

• Considering the symmetrical triangle, the price is expected to consolidate for another couple of days until it reaches the apex

• Later a huge possibility of rebounding towards the higher resistance is likely, failing to which the lower support at $1.2 may hold the price tightly. 

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