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Polygon Price Prediction: Will MATIC Price Remain Bullish?



 The MATIC price almost reached the exact middle between our Fib price targets at around USD 0.85 and USD 1.2. What's next?


Polygon price doubles in a few days

The last polygon course forecast was a few months ago. Because we last wrote to MATIC in June, when the price was still around USD 0.53:


Polygon could now rally to the 0.382 Fib level around $0.85. After all, last week was the first bullish week in nine weeks! Should Polygon build on that this week, MATIC will find the first significant Fib resistance at around $0.85.


If the MATIC price breaks this resistance in a bullish way, the next significant Fib resistance is waiting for MATIC at around USD 1.2. Additionally, the 50-week EMA is acting as additional resistance around 1.17.”


The MATIC price rose to USD 1.055 and was met with rejection

The MATIC price has risen sharply since the last price forecast and reached a high point of around USD 1.055 in the middle of our Fib price targets between USD 0.85 and USD 1.2. Once there, the MATIC price was initially strongly rejected at the 200-day EMA. Subsequently, the Polygon price returned to the 0.382 Fib support at around $0.77, which the MATIC price could now bounce off.


Then MATIC could rally again towards the 50-week EMA around $1.065. In addition, the MACD lines are still bullishly crossed in the weekly chart. However, the histogram has been ticking bearishly lower for almost three weeks and the RSI is neutral.


There is a death cross on the daily chart

In the daily chart, the MATIC price was able to break the 50-day EMA at around USD 0.82 in the course of the bounce off the 0.382 Fib support at around USD 0.77. With that, Polygon is once again finding significant resistance at the 200-day EMA around $0.986. Otherwise, the next significant Fibonacci resistances are waiting at around USD 1.3 and USD 2.


The indicators are giving both bullish and bearish signals. While the RSI is showing neutral, the EMAs established a death cross, confirming the trend bearish in the short to medium term. However, the EMAs are not far apart and the MACD lines are on the verge of a bullish crossover, while the MACD histogram has been ticking bullishly higher for several days.


Where does the MATIC course find long-term support?

If MATIC breaks the golden ratio resistance at the USD 2 mark, MATIC could return to the ATH around USD 2.9. Because that would be a bullish trend reversal.


Should MATIC now end the upward movement and continue the downward trend, MATIC will find significant support at around USD 0.62 at the latest and between USD 0.26 and USD 0.35.


Against BTC, the Polygon price is at Golden Ratio resistance

Against BTC, MATIC price is at the last resistance before Polygon reaches the bearish trend line. At around 0.000044 BTC, the MATIC course is now encountering resistance and should MATIC break this, MATIC will find crucial resistance at around 0.00005 BTC at the bearish trend line.


If Polygon breaks the golden ratio at the trendline, MATIC could rise to the ATH at around 0.0000665 BTC. Additionally, the MACD lines are bullishly crossed over on the weekly chart. The histogram has been ticking bearishly lower for a few weeks.


Should MATIC receive a bearish rejection, MATIC will find significant support at the 50-week EMA around 0.000032 BTC.


A golden crossover established itself in the daily chart

A golden crossover was established in the daily chart, which confirms the bullish trend in the short to medium term. In addition, the histogram of the MACDs is ticking bullishly higher and the MACD lines are crossed bullishly.


Nevertheless, the MATIC course has been bearishly rejected three times so far at the golden ratio resistance at around 0.000044 BTC.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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