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Polygon Price Analysis: Bulls attempt to recover negligible losses made on Monday and hit $1.650

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TL;DR Breakdown

  • Polygon price analysis is bullish on today’s daily chart
  • MATIC/USD traded between a tight daily range of low volatility on the 24 hours $1.57 – $1.63.

Polygon price analysis is bullish on today’s daily chart after setting a fresh higher low on yesterday’s session. Polygon price action took a gradual increase at yesterday’s close and we are expecting the altcoin to maintain an upward trajectory in the course of the day.

The general cryptocurrency market traded bullishly strong in the last 24 hours with Bitcoin breaking the $50K barrier, Binance Coin hitting $500 and Cardano touching the $2.9 resistance line. Meanwhile, we anticipate that the market will continue rising and the bulls will keep pushing higher. 

MATIC/USD 1-day price chart: Bulls are trying to hold ground

MATIC/USD traded between a tight daily range of low volatility on the 24 hours $1.57 – $1.63. Furthermore, daily total trading volumes decreased by 24 percent to $1,184,793,554. Meanwhile, the Polygon market capitalization dropped by 4.30 percent to $10 billion. 

4-hour Polygon price analysis: Bullish progression against $1.600 support

We can see Polygon attempting to rally high on the 4-hour polygon price analysis chart as buyers prepare to overcome a hurdle at $1.59 and break above $1.60. 

Polygon price action has rallied by more than 150 percent from a 2-month low set in June. Meanwhile, a weekend rash to the upsides occured when the coin set a higher low near the $1.5+ zone. A slight retracement on Sunday night slightly displaced the bulls from the $1.65 high, and they are trying to break out presently.

Polygon Price Analysis: Bulls attempt to recover negligible losses made on Monday and hit $1.650 1
Source: Tradingview

Generally, this Polygon price analysis suggests the bulls are willing to push through and are already consolidating around the press time price at $1.600. The first primary target is to beat the supply zone resistance around this mark and swing higher. Afterwards, MATIC/USD could rapidly trend to another support at $1.90. 

Polygon price analysis Conclusion

Today’s Polygon price analysis is bullish,  and a straight rally could be seen in the next 24 hours as the bulls attempt to set new higher lows. The main target is to hit $2.00 in the course of the week, and we expect MATIC/USD to hit near $1.9 in the next 24 hours.  While waiting for Polygon’s price to consolidate upwards, read our articles on Decentralized Exchanges, NFT Marketplace, and Bitcoin Futures.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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