In the past few days, Polygon (MATIC), has seen an incredible bull run. According to the daily chart, the price of the coin is above the EMA lines. On the other hand, MATIC’s trading volume has plunged by as much as 42% or $1.1 billion overnight.
MATIC’s price experienced a bull market right after breaking the symmetrical triangle pattern on the upside. MATIC had to overcome $1.0 for many years, which proved difficult.
MATIC/USDT at 0.93
The MATIC/USDT currency pair trades at $0.93. Bears are having a hard time keeping the coin’s price under $1.0. Moreover, Polygon’s price is shooting for the 200 DMA line.
Meanwhile, Polygon’s total market capitalization has declined by 2.5% or is currently at $7.4 billion as seen over the past 24 hours. As per overnight data, trading volume for MATIC also fell by 42% to $1.1billion. RSI also looks bullish, having been able to recover from its lower bottom.
Polygon is struggling to break the $1.0 resistance level despite the bull market. A resistance breakout could be coming up next week.
Valdrin Tahiri was an expert in crypto and stated that Polygon could jump off of the critical support at 0.74, plus it was capable to surpass the resistance. MATIC intends to shift resistance from $0.74 towards the support line.
Polygon Will Rise Up 20x to 60x During Next Bull Run
Tahiri states that MATIC is now trying to finish the fourth wave of five-wave downward movement sequences as the coin bottoms out. MATIC will now be able to break the upward trend after the final leg of five waves has been completed. They are targeting $1.40.
CryptoFaibik, a popular crypto expert and YouTuber, was able to spot a bullish streak in the price chart of MATIC referred to as the Descending Broadening Wedge Breakout, which indicates the coin’s upside reversal. CryptoFaibik has its sights set on $1.97, or 217% more MATIC prices.
According to Michäel van de Poppe, a popular crypto expert and educator, MATIC’s price is set to increase around 20x to 60x in the next bull run or uptrend. Additionally, the Polygon price graph shows a bullish trend that allows for exception gains.
MATIC holders and traders are reaping the benefits of partnerships and expansion plans that were announced over the last month.
MATIC market capital at $7.20 Billion according to the daily chart. Source: TradingView.com| Source: TradingView.com Featured Image from Analytics Insight. Chart from TradingView.com