Polygon Price Analysis: MATIC/USD set to break above the $2.26 resistance

Solana price analysis

TL;DR Breakdown

  • The Polygon price analysis is bullish today.
  • Resistance for MATIC is present at $2.26.
  • Support for MATIC is present at $2.14.

The Polygon price analysis is optimistic today, as the coin extended gains above yesterday’s $2.13 price cap. MATIC was met with rejection at the same point on December 16th, but bulls have successfully reversed this resistance into a support level now. Bulls continue to rise, and there is no barrier until the next resistance at $2.44. Daily momentum is positive, as both the MACD and RSI show bullish conditions.

Resistance for $MATIC is present at $2.26 today, as identified in yesterday’s analysis. Bulls successfully reversed this resistance into a support level, as the coin continued gains above yesterday’s $2.13 price cap. The next barrier for MATIC is at $2.44, as identified by the Fibonacci levels.

MATIC/USD 1-day price chart: MATIC price reaches $2.19 as bulls gain 4.2 percent

The price chart for Polygon price analysis reveals an increase in pricing. The MATIC/USD is presently exchanged at $2.19. During the previous 24 hours, the crypto pair rose by 4.29% in value and 4.07 percent over seven days. During the last 24 hours, trading volume increased by 10.17%, while market capitalization improved by 2.40 percent during this period (7-day average).

MATIC/USD’s volatility is dropping as the Bollinger bands converge in the short term. The upper Bollinger band can be seen at $2.41, representing a resistance level for MATIC/USD, and the lower band can be found at $1.75, which indicates a support level for MATIC/USD on the 1-day chart.

The RSI is in the upper half of the neutral zone on a rising slope, at index 56. The buyers ‘ side holds the upper hand on this indicator, which measures influence balance.

Polygon price analysis: Latest developments and further technical indications

The 4-hour Polygon demonstrates that the price function has been rising for the last 20 hours, following a downturn on 16th and in the first half of the 17th December trading session. The present bull run began in the second half yesterday and has continued today.

Polygon Price Analysis: MATIC/USD set to break above the $2.26 resistance 1
AVAX/USD 4-hours price chart. Source: TradingView

The volatility has also reduced the 4-hour chart as the Bollinger bands have converged. The upper band is at $2.24, indicating resistance, and the lower band is at $1.91, implying a market average of $2.07. The RSI sits at 60 on an upward curve in the neutral zone, suggesting that investors are buying into it.

Polygon Price Analysis: Conclusion

Today’s Polygon price analysis reveals that the price is rising as the bullish momentum is steady, and further price increase is anticipated today. The MATIC price is already in a higher price range, and bulls have been pushing for the last 20 hours so that a little dip may occur in the coming hours, but overall growth will continue.

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.

Related News

Hot Stories

Ripple price analysis: XRP turns bearish again after pulling back up to $0.45, what's next?
Portugal unveils capital gains tax on crypto
Dogecoin founder says 95% of cryptocurrencies are ''scam and garbage"
Ripple price analysis: XRP/USD set to break above the $0.5 resistance
Cardano Price Prediction 2022-2030: Is ADA a good investment?

Follow Us

Industry News

The Pussyverse: How cryptocurrency Could tackle gender inequality in finance
MiamiCoin and NewYorkCoin plummet over 85% despite Mayoral endorsements
Cloudflare grants public access to Ethereum and IPFS gateways
Coinbase slows down hiring plans after Q1 losses
Korea's authorities open investigation into TerraUSD collapse