Polygon (MATIC) has began to point out indicators of restoration after a steep correction over the past week or so. The decline in worth is a part of a broader droop within the wider market, however MATIC seems to be consolidating for its subsequent leg up. Listed below are the primary info:
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MATIC has managed to carry the $0.8 assist regardless of huge promoting strain.
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The coin can reclaim the vital psychological worth of $1 within the days forward.
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This might set off a bullish uptrend that might ship no less than 25% in positive aspects.
Knowledge Supply: Tradingview
Polygon (MATIC) – worth prediction
After hitting a brand new 2022 excessive of $1.73, MATIC has misplaced lots of its upward momentum. The coin has tumbled over the past two weeks, dropping a number of key helps within the course of. The most important fear for bulls although got here after the token fell beneath the essential psychological worth of $1.
However regardless of this promoting strain, MATIC seems to have discovered robust assist at $0.8. The coin has held this stage even because the broader market sells off. It is a good signal, in reality, we’re seeing some consolidation round $0.8 proper now. If this continues, MATIC is probably going going to reclaim the $1 worth.
After that, bulls could take over and push the worth motion larger by no less than 25% from the $1 worth. Moreover, momentum indicators, together with the RSI present a bullish divergence that might push the worth additional upwards.
Easy methods to benefit from this setup?
MATIC has already dipped massively from its 2022 highs. If you happen to ever needed to personal this altcoin, that is the most affordable it has been for some time. It’s subsequently a great time to purchase, particularly for long-term traders.
As for the short-term play, a great strategy could be to attend for the altcoin to reclaim $1. As soon as this occurs, you should buy in and exit at round $1.3.