Cryptocurrency markets are extremely complex, and anyone looking to make money trading cryptocurrencies needs tools to help them with the other aspects of trading such as software, market data, and strategies. Today we’re going to look at a popular trading platform, a tool that can help you with all of those things, and a cryptocurrency to look at that may be making big moves in the near future.
Polygon is a cryptocurrency that is currently at [$1.3] USD and has been trading at that level for several days. This cryptocurrency has been compared to Dash, Litecoin, Monero, and Zcash. The coin was created to be the “Mystery Cryptocurrency of the Month”, with only a small amount of information about the cryptocurrency being available.
Polygon, the second largest cryptocurrency in terms of market cap, has been on an impressive bull run, with the price of the coin increasing over 1,000% since the start of the year. One of the selling points of Polygon is its high transaction speeds, which have come under a lot of scrutiny and criticism lately.. Read more about polygon price prediction today and let us know what you think.Summary of the situation
- MATIC evolved laterally during the night.
- Support is around $1.30.
- The next resistance is at $1.70.
Polygon’s price analysis for today is bullish, as the market has made a low at $1.30 and is currently rejecting further declines. Therefore, we expect the MATIC/USD to move towards the next price target of $2 in the coming week.
Overall price action in the market has remained bearish over the past few weeks, falling more than 50% from the previous high of $2.40. Support at $1.20 was reached earlier this week, suggesting that a reversal could be forming.
A rally to the $1.70 level followed, which is another indication that the bulls are looking to regain control of the situation. A multi-day pullback then led to support at $1.30.
With the formation of a low, we can expect MATIC/USD to begin an upward move next week, with $2 as the next resistance target. Once the price target is reached, Polygon’s entire price action structure will become very bullish again.
Polygonal price analysis: Supplement
Polygon’s price analysis is bullish as the market has fallen in recent days and found support at $1.30. Therefore, we expect MATIC/USD to start rising early next week to reach the next price target of $2.
In anticipation of MATIC’s rise, read our guide to Chinese miners, Cardano shares and bitcoin payments.
Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The Polygon crypto asset is currently trading at $1.3, which is a considerable drop from its all-time high of over $20. Even so, the digital currency is primed to jump to over $2.00, according to the technical charts, with an upper limit of $5.00. A possible catalyst for the price surge, Polygon can initiate a meaningful rally after another strong bull run this month.. Read more about coincodex matic and let us know what you think.
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