MATIC/USD Recovers Above $1.10 Level

The Polygon price prediction begins a decent recovery toward $1.15 as the coin approaches a major hurdle near $1.20.

Polygon Prediction Statistics Data:

• Polygon price now – $1.08
• Polygon market cap – $9.4 billion
• Polygon circulating supply – 8.7 billion
• Polygon total supply – 10 billion
• Polygon Coinmarketcap ranking – #10

MATIC/USD Market

Key Levels:

Resistance levels: $1.20, $1.30, $1.40

Support levels: $0.90, $0.80, $0.70

MATIC/USD is in the hands of the bulls as the coin moves to cross above the upper boundary of the channel. However, due to a lack of buying power, the bulls may need to gather enough energy to push the coin to the upside. The technical indicator Relative Strength Index (14) is moving above the 70-level with the signal line pointing to the north, suggesting bullish movement.

Polygon Price Prediction: Polygon (MATIC) May Spike to the Upside

Looking at the daily chart, the Polygon price is ready to break into the upside as the 9-day moving average remains above the 21-day moving average. However, the more the bulls pressurized the bears, the higher the coin would reach. Therefore, if the bulls maintain the upward trend, MATIC/USD may continue with the bullish movement which could take the coin to the resistance levels of $1.20, $1.30, and $1.40.

On the other hand, any strong selling pressure could drag the price below the 9-day and 21-day moving averages, and should BTC trade below the daily opening price of $0.99, a bearish movement could take the price to the support levels at $0.90, $0.80, and $0.70.

Against Bitcoin, the Polygon is above the 9-day and 21-day moving averages as the bulls increase their entries within the market. At the time of writing, the Polygon price has not been able to push the price above the upper boundary of the channel as it is currently trading at 4703 SAT. If the Polygon signals a bullish rally, it may likely meet resistance at 5500 SAT and above.

Looking at the daily chart, traders can see that the market may maintain the bullish movement as the technical indicator Relative Strength Index (14) moves to cross above the 50-level. Meanwhile, any bearish movement below the moving averages could hit the support at 3700 SAT and below.

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